At its fiscal year-end of June 30,Kendall Wholesale's general ledger shows the following selected account balances.Kendall Wholesale uses the perpetual inventory system. A physical count of its June 30 year-end inventory discloses that the cost of the merchandise inventory still available is $58,160.Prepare the entry to record any inventory shrinkage.

Question

At its fiscal year-end of June 30,Kendall Wholesale's general ledger shows the following selected account balances.Kendall Wholesale uses the perpetual inventory system.  A physical count of its June 30 year-end inventory discloses that the cost of the merchandise inventory still available is $58,160.Prepare the entry to record any inventory shrinkage.

Quizplus · Accepted Answer

The Answer of At its fiscal year-end of June 30,Kendall Wholesale's general ledger shows the following selected account balances.Kendall Wholesale uses the perpetual inventory system.  A physical count of its June 30 year-end inventory discloses that the cost of the merchandise inventory still available is $58,160.Prepare the entry to record any inventory shrinkage.

At Its Fiscal Year-End of June 30,Kendall Wholesale's General Ledger