Click Computers's Merchandise Inventory account at year-end is showing a balance of $43,000. The physical count of inven- tory came up with $42,500. Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system. 9.

Click Computers's Merchandise Inventory account at year-end is showing a balance of $43,000. The physical count of inven- tory came up with $42,500. Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system. 9.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter14: Adjustments For A Merchandising Business

Section: Chapter Questions

Problem 8RQ: A firm is preparing to make adjusting entries at the end of the accounting period. The balance of...

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A firm is preparing to make adjusting entries at the end of the accounting period. The balance of the merchandise inventory account is 100,000. If the firm is using the perpetual inventory system, what does this balance represent?
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