Multiple Choice
The Merchandise Inventory account balance is $50,000.An physical count of inventory reveals that actual inventory balance is $42,000.Which of the following would be included in the adjusting entry? (Assume a perpetual inventory system. )
A) a $42,000 credit to Merchandise Inventory
B) a $50,000 debit to Cost of Goods Sold
C) a $8,000 credit to Cost of Goods Sold
D) a $8,000 credit to Merchandise Inventory
Correct Answer:
Verified
Correct Answer:
Verified
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