When using the periodic inventory system,there is no need to record an adjusting entry for inventory shrinkage.

Name: When using the periodic inventory system,there is no need to record an adjusting entry for inventory shrinkage.
Brand: Quizplus
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Quizplus · Accepted Answer

In a periodic inventory system, inventory shrinkage is already taken into account as part of the cost of goods sold calculation at the end of the accounting period. Therefore, there is no need to make an adjusting entry specifically for inventory shrinkage.

When Using the Periodic Inventory System,there Is No Need to Record