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Zamora Corporation Uses the Perpetual Inventory System

question 30

Essay

Zamora Corporation uses the perpetual inventory system. The following information is presented as of December 31, the end of its fiscal year:
Beginning inventory, January 1
$147,572
Merchandise purchased during the year
68,950
Merchandise sold during the year
112,341
Physical count of ending inventory, December 31
102,789
Instructions:
Prepare the journal entry to adjust Merchandise Inventory at year end on page 10.

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Definitions:

Communication Circle

A method or model of communication involving a sender, message, receiver, and feedback that ensures information is effectively relayed and understood among participants.

Feedback

The return of information about the result of a process or activity, an important component for systems regulation and learning.

Message

A piece of information or communication sent from one person to another.

Receiver

A device that receives signals, such as audio or video transmissions, and converts them into a form that can be understood or displayed.

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