Mary Monitor CA noted that ABC Co.Ltd.received goods prior to year-end and included them in the physical inventory but did not been record them in the accounting records.In this case which of the following adjustments should be made?
A) Debit Purchases/credit Cost of Goods Sold.
B) No adjustment is necessary.
C) Debit Inventory /credit Accounts Payable.
D) Debit Cost of Goods Sold/credit Accounts Payable.
Correct Answer:
Verified
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