Highlight Manufacturing Company uses a perpetual inventory system for its raw materials.The inventory records reflect a raw materials balance of $478,500 at December 31.A physical inventory taken on that date revealed raw materials of $475,750.How will the $2,750 difference affect raw materials inventory and cost of goods sold,assuming it is attributed to normal shrinkage?

Question

Highlight Manufacturing Company uses a perpetual inventory system for its raw materials.The inventory records reflect a raw materials balance of $478,500 at December 31.A physical inventory taken on that date revealed raw materials of $475,750.How will the $2,750 difference affect raw materials inventory and cost of goods sold,assuming it is attributed to normal shrinkage?
Highlight Manufacturing Company uses a perpetual inventory system for its raw materials.The inventory records reflect a raw materials balance of $478,500 at December 31.A physical inventory taken on that date revealed raw materials of $475,750.How will the $2,750 difference affect raw materials inventory and cost of goods sold,assuming it is attributed to normal shrinkage?

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The Answer of Highlight Manufacturing Company uses a perpetual inventory system for its raw materials.The inventory records reflect a raw materials balance of $478,500 at December 31.A physical inventory taken on that date revealed raw materials of $475,750.How will the $2,750 difference affect raw materials inventory and cost of goods sold,assuming it is attributed to normal shrinkage?

Highlight Manufacturing Company Uses a Perpetual Inventory System for Its