The ending inventory of a company was $552,000 as per the perpetual inventory records. The current replacement cost for the ending inventory is $547,000. Prepare the journal entry to adjust inventory. Omit explanation.
What will be an ideal response?
Note:
Amount written down = $552,000 - $547,000 = $5,000
You might also like to view...
________ represent buyers or sellers on a more permanent basis than brokers
A) Distributors B) Franchisees C) Agents D) Retailers E) Manufacturers
According to the U.S. Small Business Administration (SBA), the process of writing a job description usually begins with
A. an analysis of the important facts about a job. B. determining the job vacancies in an organization. C. a process known as job enrichment. D. asking employees to fill questionnaires about their job preferences.
Which of the following is a characteristic of the standard normal probability distribution?
A. The mean, median, and the mode are not equal B. The distribution is not symmetrical C. The standard deviation must be 0 D. The standard deviation must be 1
________ marketing refers to the marketing of goods or services using digital media, such as e-mail websites, search engines, and social media platforms.
Fill in the blank(s) with the appropriate word(s).