Gruver Company maintains perpetual inventory records. The company's inventory account had a $5,500 balance as...
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Accounting
Gruver Company maintains perpetual inventory records. The company's inventory account had a $5,500 balance as of December 31, 2014. On that date, a physical count of inventory showed only $5,300 of merchandise in stock. The write-down to recognize the missing inventory will
Decrease assets. Increase expense. Decrease equity. All of these.
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