Question

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?

Answer 1

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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