The records of Macklin Co. 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.
2. A year- end physical inventory at retail prices yields a total inventory of $ 80,450.
Prepare a calculation showing the companys loss from shrinkage at cost and atretail.
Transcribed Image Text:
At Cost At Retail January I beginning inventory. 90,022 $115,610 502.250 761,830 782,300 3,460 Cost of goods purchased Sales Sales returns
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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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