The beginning inventory of a merchandising business was $121,000, and the ending inventory is $102,519 What entries are needed at the end of the fiscal period to adjust Merchandise Inventory ...

At the end of the accounting year the Merchandise inventory account needs to be updated ...

The beginning inventory of a merchandising business was $121,000, and the ending inventory is $102,519. What entries

Question:

The beginning inventory of a merchandising business was $121,000, and the is $102,519. What entries are needed at the end of the fiscal period to adjust Merchandise Inventory?
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...