Adjustments are made on the work sheet for both beginning and ending Merchandise Inventory.

Name: Adjustments are made on the work sheet for both beginning and ending Merchandise Inventory.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both beginning and ending Merchandise Inventory need to be adjusted on the work sheet to accurately calculate the cost of goods sold and gross profit. Beginning inventory is subtracted from the cost of goods available for sale, and ending inventory is used to calculate the cost of goods sold.

Adjustments Are Made on the Work Sheet for Both Beginning