Question: Prepare adjusting entry for inventory. BE 5 . 6 ( LO 4 ) , AP At year - end, the perpetual inventory records of Litwin

Prepare adjusting entry for inventory.
BE5.6(LO 4), AP At year-end, the perpetual inventory records of Litwin Company showed merchandise inventory of $98,000. The company determined, however, that its actual inventory on hand was $95,700. Record the necessary adjusting entry.

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