Question

The records of Alaska Company provide the following information for the year ended December 31.


Required
1. Use the retail inventory method to estimate the company’s year- end inventory at cost.
2. A year- end physical inventory at retail prices yields a total inventory of $ 1,686,900. Prepare a calculation showing the company’s loss from shrinkage at cost and at retail.


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  • CreatedNovember 26, 2013
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