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Connect Secure https://newconnect.mheducation.com/flow/connect.html Hill Connect G Google Apple "iCloud D Yahoo Bing D wikipedia D Facebook D Twitter O Linkedin D The weather Channel Dyelp al - Good Luck! Help Save& Exit 19 Zenith Company's Merchandise Inventory account at year-end has a balance of $91,820, but a physical count reveals that $90,450 of inventory exists. The adjusting entry to record this $1,370 of inventory shrinkage is: only 2 Multiple Choice Merchandise inventory 1.370 Inventory shrinkage expense 1,370 Purchases discounts 1,370 cost of goods sold 1,370 1,370 Cost of goods sold 1.370 Merchandise inventory

Explanation / Answer

19) cost of goods sold 1,370 Merchandise inventory 1,370 since inventory is less in hand we need to credit it

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