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As a result of a physical count, year-end Merchandise Inventory was determined to be $470,000....

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Accounting

As a result of a physical count, year-end Merchandise Inventory was determined to be $470,000. Adjust the Merch Inventory account to reflect the amount of inventory overage or shortage. Given:

Beg Merch Inventory= 639,600

Beg COGS= 2,926,200

Merch Inventory purchased= 336,600C

Cost of Merch Inv sold= 499,200

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