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    Scooter8's Avatar
    Scooter8 Posts: 2, Reputation: 1
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    #1

    May 1, 2011, 08:11 PM
    How do I make an adjusting entry to Merchandise Inventory, in order to prepare the Fi
    At the end of March, adjustment data was entered:

    Merchandise Inventory March 31 196,139

    The Inventory On March 1st was recorded @ 200700
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    May 1, 2011, 09:29 PM

    Debit Cost of Goods Sold for the difference between the two amounts
    Credit Merchandise Inventory for the amount
    Scooter8's Avatar
    Scooter8 Posts: 2, Reputation: 1
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    #3

    May 2, 2011, 10:55 AM
    So this would be the Method for the Perpetual system of accounting?
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