Inventory Shrinkage Is $100

question 44

Multiple Choice

Inventory shrinkage is $100. The income statement debit and credit columns of the worksheet total $2,500 and $2,500, respectively, not including the adjustment amounts for shrinkage. The net income or loss for the period is

• A) $150 net income.
• B) $150 net loss.
• C) $100 net income.
• D) $100 net loss.

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