Solution-Journalize the adjusting entry for the inventory

Journalize the adjusting entry for the inventory shrinkage

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Reference no: EM132751163

Problem - Omega Tire Co.'s perpetual inventory records indicate that $3,145,000 of merchandise should be on hand on August 31, 20Y4. The physical inventory indicates that $3,113,500 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Omega Tire Co. for the fiscal year ended August 31, 20Y4.

Reference no: EM132751163

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Journalize the adjusting entry for the inventory shrinkage

Reference no: EM132751163

Reference no: EM132751163

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