Armstrong company maintains perpetual inventory records., Ask an Expert

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Armstrong Company maintains perpetual inventory records. The company's inventory account had a $6,500 balance as of December 31, 2012. On that date, a physical count of inventory showed only $6,100 of merchandise in stock. The prepare-down to

recognize the missing inventory will
increase assets.
increase expense.
increase equity.
have no effect on net income.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M941459

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