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Asked by Sanchit on :Jun. 25, 2015

What is a contra inventory account?

What is a contra inventory account?

What is a contra inventory account?

0

Chiranjibi Aug. 27, 2018

A contra inventory account is a general ledger account with a credit balance. The credit balance in the contra inventory account will be combined with the debit balance in the inventory account when a balance sheet is prepared.

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