At its fiscal year-end of June 30, Kendall Wholesale's general ledger shows the following selected account balances. Kendall Wholesale uses the perpetual inventory system. 
A physical count of its June 30 year-end inventory discloses that the cost of the merchandise inventory still available is $58,160. Prepare the entry to record any inventory shrinkage.
Definitions:
Florist
A professional or business that specializes in the arrangement and sale of flowers and floral displays.
Production Function
A mathematical relation between quantities of input and output in production, specifying the maximum output achievable from different combinations of input.
Total-Cost Curve
A graphical depiction showing the total cost of producing different levels of output, illustrating the relationship between production volume and total costs.
Production Possibilities Frontier
A graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology.
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