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9 October, 20:59

At year-end, the perpetual inventory records of Whispering Winds Corp. showed merchandise inventory of $112,410. The company determined, however, that its actual inventory on hand was $110,490. Record the necessary adjusting entry.

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  1. 10 October, 00:14
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    Given that

    Merchandised inventory = $112,410

    Actual inventory = $110,490

    So, the amount of the inventory would be adjusted is

    = $112,410 - $110,490

    = $1,920

    So, the adjusted journal entry is

    Cost of Goods Sold A/c Dr $1,920

    To Merchandise inventory A/c $1,920

    (Being the inventory amount is adjusted)
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