Given the following opportunity loss function, determine the loss when 1,100 units are sold

Opportunity loss = 3 (1,000 - X) for X ? 1,000, otherwise 0.

A) 0
B) -300
C) 300
D) 3
E) 600


A

Business

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Zenith Company's Merchandise Inventory account at year-end has a balance of $91,820, but a physical count reveals that only $90,450 of inventory exists. The adjusting entry to record this $1,370 of inventory shrinkage is:

A.

Inventory shrinkage expense1,370 
Cost of goods sold 1,370

B.
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Inventory shrinkage expense 1,370

C.
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Merchandise inventory 1,370

D.
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Merchandise inventory 90,450

E.
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Cost of goods sold 1,370

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