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1. when the physical inventory on hand at the end of the accounting period is less than the balance of merchandise inventory, the difference is called . merchandise available for sale cost of merchandise sold inventory shrinkage none of these are correct. 2. the adjusting journal entry to record inventory shrinkage includes a debit to and a credit to . cost of merchandise sold; merchandise inventory merchandise inventory; cost of merchandise sold merchandise inventory; inventory shrinkage none of these are correct.

Respuesta :

When the physical inventory on hand at the end of the accounting period is less than the balance of Merchandise Inventory, the difference is called inventory shrinkage.

What is the name of the inventory that remains after an accounting period but wasn't sold?

At the end of an accounting period, inventory refers to the goods that are still in stock but have not yet been sold. Cost of goods purchased: The price of goods acquired over a time, calculated as purchases less returns and allowances, less discounts, plus freight in.

What is inventory when an accounting period is over?

The value of products still on hand and available for purchase by a company at the end of an accounting period is referred to as ending inventory.

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