You have just graduated with a business diploma in management and have been hired as the inventory manager for a local sporting goods store. Your first task is to review and assess the following information:

Required

Using the elements of critical thinking described on the inside front cover, comment.

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2019 2020 Cost of merchandise sold to customers in sales transactions.. $320,000 84,000 240,000 14,000 12,000 22,400 2,400 1,200 $480,000 Merchandise inventory balance, beginning of year. Invoice cost of merchandise purchases. Shrinkage determined at end of year. Cost of transportation-in. Cost of merchandise returned by customers and restored to inventory Purchase discounts received. Purchase returns and allowances received. 510,000 2,500 25,500 115,000 5,100 2,550