The beginning inventory of Norcal Wholesalers was $141,000, and the ending inventory is $118,519 What entries are needed at the end of the fiscal period to adjust Merchandise Inventory ...

GENERAL JOURNAL PAGE DATE DESCRIPTION POST REF DEBIT CREDIT 1 2019 1 2 Dec 31 In ...

The beginning inventory of Norcal Wholesalers was $141,000, and the ending inventory is $118,519. What entries are

Question:

The beginning inventory of Norcal Wholesalers was $141,000, and the is $118,519. 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 =...