Inventory Adjustments

Inventory Adjustments - Inventory Adjustments

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Inventory Adjustments On a work sheet, the beginning inventory balance in the trial balance columns combines with the two  inventory adjustments to produce the ending inventory balance in the adjusted trial balance columns.  This balance carries across to the work sheet's balance sheet columns. Income summary, which appears on the work sheet whenever adjusting entries are used to update  inventory, is always placed at the bottom of the work sheet's list of accounts. The two adjustments to  income summary receive special treatment on the work sheet. Instead of combining the adjustments 
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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