When the physical count of Swifty Company inventory had a cost of $4260 at year end and
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When the physical count of Swifty Company inventory had a cost of $4260 at year end and the unadjusted balance in Inventory was $4620, Swifty will have to make the following entry:
Cost of Goods Sold 150
Inventory 150
Inventory 150
Cost of Goods Sold 150
Income Summary 150
Inventory 150
Cost of Goods Sold 4,500
Inventory 4,500
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