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Spoose Daves Dvarns Mertansse herery account showed a balane of S8000 bdae te yearend aantent. The physialcortof㎛onhandit ed$7A00 Die ines a peen rwortory system Teadustthท acorts, which entywidthe company muke? ueAccouts and ExplonationDvbn Crd OA. Merchandse Inventory Cost af Goods Sold O 8. ooounts Receivable Ос. ol Goods Sold Click to select your 8 9 o. Alt
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Merchandise inventory account balance - S8,000 Physical count of goods on inventory - $7,400 Inventory short S8,000- $7,400 S600 Since there is a shortage in merchandise inventory, as per perpetual inventory system we should transferred that shortage to cost of goods sold account. Adjusting entry Cost of goods sold A/c Dr S600 To Merchandise inventory A/c Being inventory shortage transferred to cost of goods sold) S600

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