Aztec Inc's inventory records indicate the following on December 31, 20Y7: Account balance of Inventory $70,500

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Aztec Inc's inventory records indicate the following on December 31, 20Y7:

Account balance of Inventory → $70,500

Physical merchandise inventory on hand → $69,000

Estimated customer refund. → $2,500

Aztec's inventory shrinkage is equal to _____.

A. $1,500

B. $500

C. $2,500

D. $1,000

Related Book For answer-question

Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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Posted Date: Feb 21, 2022 12:21 AM

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Aztec Inc's inventory records indicate the following on December 31, 20Y7: Account balance of Inventory $70,500

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Financial Accounting

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