Multiple Choice
After performing a physical count of inventory at the end of the accounting period,it was discovered that the amount of inventory on hand was less than the accounting records reported.The entry to record this inventory shrinkage includes:
A) credit to Cost of Goods Sold.
B) debit to Inventory.
C) credit to Purchase Discounts.
D) credit to Inventory.
Correct Answer:
Verified
Correct Answer:
Verified
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