Required information Use the following information for Quick Studies below. (Algo) [The following information applies to the questions displayed below] Nix'it Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'It uses the perpetual inventory system). Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 39,300 Sales returns and allowances $6,209 118,309 Cost of goods sold 105,900 7,000 Depreciation expense 10,600 159, 600 Salaries expense 34, eee 3,280 Miscellaneous expenses 5,000 A physical count of its July 31 year end inventory discloses that the cost of the merchandise inventory still available is $38.000 Required information repare the entry to record any inventory shrinkage. View transaction list Journal entry worksheet