Chapter 6 HW Cezto.mheducation.com/hm.tpx?-0.887417237167704 1522176419394 Chapt

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Chapter 6 HW Cezto.mheducation.com/hm.tpx?-0.887417237167704 1522176419394 Chapter 6 HW Question 1 (of 22) alue 0.25 points M6-2 Calculating Shrinkage in a Perpetual Inventory System [LO 6-21 Corey's Campus Store has $4 600 of inventory on hand at the beginning of the month During the month, the company buys $48,200 of merchandise and sells merchandise that had cost $33,600. At the end of the month, $14,800 of inventory is on hand How much shrinkage occurred during the month? Shinkage References eBook & Resources acer esc

Explanation / Answer

Inventory Shrinkage: Beginning Inventory 4,600 Add: Purchase during the year 48,200 Total Goods available for sale 52,800 Less: Cost of Goods sold during the year 33,600 Inventory as per books 19,200 Less: Physical inventory in hand 14,800 Inventory Shrinkage: 4,400

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