Question: 16. Windsor, Inc. uses a perpetual inventory system and reported $501,500 of inventory at the beginning of the month based on a physical count of

16. Windsor, Inc. uses a perpetual inventory system and reported $501,500 of inventory at the beginning of the month based on a physical count of inventory. During the month, the company bought $55,000 of inventory and sold inventory that had cost $32,250. At the end of the month, the physical count of inventory shows $520,000 on hand. How much shrinkage occurred during the month

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