Assume that Audio Outfitter Inc. in Discussion Question 9 experienced an abnormal inventory shrinkage of $98,600. Audio Outfitter Inc. has decidedto record the abnormal inventory shrinkage so that it would be disclosed separately on the income statement. What account would be debited for theabnormal inventory shrinkage?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter10: Inventory
Section: Chapter Questions
Problem 13EA: If a group of inventory items costing $15,000 had been omitted from the year-end inventory count,...
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Assume that Audio Outfitter Inc. in Discussion Question 9 experienced an abnormal inventory shrinkage of $98,600. Audio Outfitter Inc. has decided
to record the abnormal inventory shrinkage so that it would be disclosed separately on the income statement. What account would be debited for the
abnormal inventory shrinkage?

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