Prepare the adjusting entry for inventory counts

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Reference no: EM13143245

While testing the inventory counts, the auditors noticed that several high dollar items had counts on the inventory listing which were materially higher than the actual counts. The difference between the actual and recorded inventory value was $66,000. prepare the adjusting entry.

Reference no: EM13143245

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Prepare the adjusting entry for inventory counts : While testing the inventory counts, the auditors noticed that several high dollar items had counts on the inventory listing which were materially higher than the actual counts. The difference between the actual and recorded inventory value was $66..

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