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At the beginning of the year, Snaplt had $10,600 of inventory. During the year,...

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Accounting

At the beginning of the year, Snaplt had $10,600 of inventory. During the year, Snaplt purchased $36,200 of merchandise and sold $30,900 of merchandise. A physical count of inventory at year-end shows $11,600 of inventory exists. Prepare the entry to record inventory shrinkage.
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At the beginning of the year, Snaplt had $10,600 of inventory. During the year, Snaplt purchased $36,200 of merchandise and sold $30,900 of merchandise. A physical count of inventory at year-end shows $11,600 of inventory exists. Prepare the entry to record inventory shrinkage

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