If the Physical Count of Inventory Revealed $158,000 of Inventory

question 90

Multiple Choice

If the physical count of inventory revealed $158,000 of inventory on hand and the inventory records reported $163,000, what would be the necessary adjusting entry to record inventory shrinkage?

• A) debit Inventory, $158,000; credit Cost of Goods Sold, $158,000
• B) debit Inventory, $5,000; credit Cost of Goods Sold, $5,000
• C) debit Cost of Goods Sold, $163,000; credit Inventory, $158,000
• D) debit Cost of Goods Sold, $5,000; credit Inventory, $5,000

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Definitions:

Sexual Dysfunction

A problem occurring during any phase of the sexual response cycle that prevents the individual or couple from experiencing satisfaction from sexual activity.

Myocardial Infarction

A medical emergency where blood flow to the heart is blocked, commonly known as a heart attack, leading to heart muscle damage or death.

Achieving Orgasm

The peak of sexual excitement, characterized by intense pleasure and accompanied by a series of rhythmic contractions in the genital area.

Sexual Function

The physical, psychological, and social aspects of sexual health and performance.