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Pulmonary Company’s perpetual inventory records indicate that $237,390 of merchandise should be on hand on June 30, 2016. The physical

Posted on October 22, 2021 By Tevaughn06 3 Comments on Pulmonary Company’s perpetual inventory records indicate that $237,390 of merchandise should be on hand on June 30, 2016. The physical

Pulmonary Company's perpetual inventory records indicate that $237,390 of merchandise should be on hand on June 30, 2016. The physical inventory indicates that $211,280 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Pulmonary Company for the year ended June 30, 2016. Assume that the inventory shrinkage is a normal amount.

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Comments (3) on “Pulmonary Company’s perpetual inventory records indicate that $237,390 of merchandise should be on hand on June 30, 2016. The physical”

  1. Expert says:
    October 23, 2021 at 4:51 pm

    Money believe but i may be wrong

    Reply
  2. Expert says:
    October 23, 2021 at 5:08 pm

    answercompetitive advantage;

    Reply
  3. borsha255 says:
    October 23, 2021 at 7:20 pm

    Dr Cost of Merchandise Sold $26,110

    Cr Merchandise Inventory $26,110

    Explanation:

    Preparation of the adjusting entry for the inventory shrinkage for Pulmonary Company for the year ended June 30, 2016.

    June 30 2016

    Dr Cost of Merchandise Sold $26,110

    Cr Merchandise Inventory $26,110

    ($237,390 – $211,280=$26,110)

    (Being to record inventory shrinkage)

    Reply

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