If Corey’s campus store has $4,000 of inventory on hand at the beginning of the month. during the month, the company buys $41,000 of merchandise and sells merchandise that had cost $30,000. at the end of the month, $13,000 of inventory is on hand. how much shrinkage occurred during the month will be $2,000
Beginning inventory on hand $4,000
Add purchase $41,000
Cost of goods sold $45,000
Less Ending Merchandise sold ($30,000)
Less Ending Inventory on hand ($13,000)
Shrinkage $2,000
Inconclusion if Corey’s campus store has $4,000 of inventory on hand at the beginning of the month. during the month, the company buys $41,000 of merchandise and sells merchandise that had cost $30,000. at the end of the month, $13,000 of inventory is on hand. how much shrinkage occurred during the month will be $2,000
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