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The offsetting entry would be to the COGS – P&M or COGS – Stock Parts account. For example if the P&M Inventory value increased by $1000.00 and Stock Parts Inventory increased by $500.00 from the prior reporting period, the adjusting entry would be as follows: AccountDebitCredit. Inventory (Asset)$1500.00. COGS-P&M$1000.00 ................
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