The records of Alaska Company provide the following information for the year ended December 31. Required 1.
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Required
1. Use the retail inventory method to estimate the companys year- end inventory at cost.
2. A year- end physical inventory at retail prices yields a total inventory of $ 1,686,900. Prepare a calculation showing the companys loss from shrinkage at cost and at retail.
Transcribed Image Text:
At Cost At Retail 469.010 928,950 5,595,800 January I begining inventory ost of goods purchased. Sales Sales returns 42,800
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Related Book For
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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