Which of the following journal entries would be recorded when the inventory with cost of 33.000 TL has a shrinkage of 3.000 TL in its value? a. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 153-Inventory O b. 3.000 TL debit to 621-COGS; 3.000 TL credit to 153-Inventory c. 3.000 TL debit to 157-Other Inventory; 3.000 TL credit to 153-Inventory d. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 100-Cash

Which of the following journal entries would be recorded when the inventory with cost of 33.000 TL has a shrinkage of 3.000 TL in its value? a. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 153-Inventory O b. 3.000 TL debit to 621-COGS; 3.000 TL credit to 153-Inventory c. 3.000 TL debit to 157-Other Inventory; 3.000 TL credit to 153-Inventory d. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 100-Cash

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 7DQ: Using the following data, how should the inventory be valued under lower of cost or market? Original...

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