As a result of a physical count, year-end Merchandise Inventory was determined to be $470,000....
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Accounting
As a result of a physical count, year-end Merchandise Inventory was determined to be $470,000. Adjust the Merch Inventory account to reflect the amount of inventory overage or shortage. Given:
Beg Merch Inventory= 639,600
Beg COGS= 2,926,200
Merch Inventory purchased= 336,600C
Cost of Merch Inv sold= 499,200
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