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Omega Tire Co s perpetual inventory records indicate that $3145000 of merchandise should be on hand on August 31 The physical inventory indicates that $3113500 of merchandise is actually on hand

Omega Tire Co. s perpetual inventory records indicate that $3,145,000 of merchandise should be on hand on August 31. The physical inventory indicates that $3,113,500 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Omega Tire Co. for the fiscal year ended August 31.

Apr 20 2020 View more View Less

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