At the end of fiscal 2017, Nick's Greenhouse counted inventory and determined that inventories of $87,160 were on hand. The end of fiscal year the unadjusted inventory account balance is $95,000. Inventory at the start of the year was $99,880.
Which of the following accounting adjustments should Nick's Greenhouse record?
D) No accounting adjustment is required.

Question

At the end of fiscal 2017, Nick's Greenhouse counted inventory and determined that inventories of $87,160 were on hand. The end of fiscal year the unadjusted inventory account balance is $95,000. Inventory at the start of the year was $99,880.
Which of the following accounting adjustments should Nick's Greenhouse record?
   D) No accounting adjustment is required.

Quizplus · Accepted Answer

The Answer of At the end of fiscal 2017, Nick's Greenhouse counted inventory and determined that inventories of $87,160 were on hand. The end of fiscal year the unadjusted inventory account balance is $95,000. Inventory at the start of the year was $99,880.
Which of the following accounting adjustments should Nick's Greenhouse record?
   D) No accounting adjustment is required.

At the End of Fiscal 2017, Nick's Greenhouse Counted Inventory