At the beginning of the year, SnapIt had $12,400 of inventory. During the year, SnapIt...
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Accounting
At the beginning of the year, SnapIt had $12,400 of inventory. During the year, SnapIt purchased $39,800 of merchandise and sold $33,600 of merchandise. A physical count of inventory at year-end shows $13,400 of inventory exists. Prepare the entry to record inventory shrinkage.
Record the inventory shrinkage on journal entry worksheet
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