When the Physical Count of Barr Company Inventory Had a Cost

question 62

Multiple Choice

When the physical count of Barr Company inventory had a cost of $4,380 at year-end and the unadjusted balance in Inventory is $4,600, Barr will have to make the following entry:

• A)\[\begin{array}{ll}
• \text { Cost of Goods Sold}&220\\\text {inventory }&&220
• \end{array}\]
• B)\[\begin{array}{ll}
• \text {inventory }&220\\\text { Cost of Goods Sold}&&220\\
• \end{array}\]
• C)\[\begin{array}{ll}
• \text {Income Summary }&220\\\text { Inventory}&&220\\
• \end{array}\]
• D)\[\begin{array}{ll}
• \text {Cost of Goods Sold}&4,600\\\text { Inventory}&&4,600\\
• \end{array}\]

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