Use the information to answer the following questions:

a. What is the $ value of the closing actual closing book inventory?

b. What is the $ value of the Book Inventory?

c. What the the dollar value of the Planned Shortage?

d. What is the actual $ shortage/overage?

Opening Inventory	$230,000
Gross Sales	$315,000
Markdowns	$ 15,000
Purchases at Retail	$340,000
Customer Returns	$ 39,500
Returns to Vendors	$ 22,000
Transfers In	$ 15,300
Physical Inventory	$260,000
Planned Shortage	2%

   

 

Answer rating: 100% (QA)

Closing Actual Book Inventory To find the value of the closing actual book inventory we need to cons... View the full answer