Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Assume that Audio Outfitter Inc in Discussion Question 9 experienced an abnormal inventory...

Assume that Audio Outfitter Inc in Discussion Question 9 experienced an abnormal inventory shrinkage of 98600 Audio Outfitter has decided to record the abnormal inventory shrinkage so that it would

Assume that Audio Outfitter Inc. in Discussion Question 9 experienced an abnormal inventory shrinkage of $98,600. Audio Outfitter has decided to record the abnormal inventory shrinkage so that it would be separately disclosed on the income statement. What account would be debited for the abnormal inventory shrinkage?
 

Here is a tip:

Inventory shrinkage can be calculated by deducting actual physical inventory from inventory as per accounting records.

Apr 14 2021 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions