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How do record an adjustment for merchandise inventory

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Question 1: How do you record an adjustment for merchandise inventory?

For example:

Physical valuation shows that Merchandise Inventory of ABC Company amounts to 937,089. One hundred thousand of those consists of swimwear which could be appreciated 10% its value. Another one hundred thousand of the merchandise were casual wear that can be assessed twice the value added to summer wear. The rest of the merchandise have the same value as assessed by their accountant. Provide the adjusting entries for the merchandise.

Reference no: EM132594141

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