Question

The records of Ultra 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 $1,710,900. Prepare a calculation showing the company’s loss from shrinkage at cost and at retail.


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  • CreatedMarch 18, 2015
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