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Home Q & A Board Other Fields Homework Help Business Accounting
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gOOvER gOOvER
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7 years ago
A company's ledger shows an Inventory balance of $20,000 and a physical count of the inventory shows $19,000.  Which of the following entries is needed to record the shrinkage?
A)
Cost of goods sold   1,000    
 Shrinkage expense      1,000

B)
Inventory   1,000    
Cost of goods sold      1,000

C)
Cost of goods sold   1,000    
                 Inventory      1,000

D)
Cash   1,000    
                 Inventory      1,000
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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raovatallpyraovatallpy
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7 years ago
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gOOvER Author
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6 years ago
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