In fiscal 2015, Macys reported cost of goods sold (before shrinkage) of $16.5 billion, ending inventory for
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In fiscal 2015, Macy’s reported cost of goods sold (before shrinkage) of $16.5 billion, ending inventory for 2015 of $5.5 billion, and ending inventory for the previous year (2014) of $5.4 billion. If the cost of inventory purchases was $16.9 billion, what was the cost of shrinkage during 2015?
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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Related Book For 
Fundamentals of Financial Accounting
ISBN: 978-1259864230
6th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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