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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.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M941459

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