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How do we record and report inventory shrinkage? Which accounts are affected?

How do we record and report inventory shrinkage? Which accounts are affected?

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter20: Inventory Management: Economic Order Quantity, Jit, And The Theory Of Constraints
Section: Chapter Questions
Problem 8DQ: One reason for inventory is to prevent shutdowns. How does the JIT approach to inventory management...
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  1. How do we record and report inventory shrinkage?
  2. Which accounts are affected?

I want to know question number 2 but i also put question number 1  to give background in what i want to know. Thank you

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