The records of Nilson 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 $1,675,800. Prepare a calculation showing the companys loss from shrinkage at cost and atretail.
Transcribed Image Text:
At Cost At Retail January I beginning inventory..4 Cost of goods purchased Sales... Sales returns 471350 927.150 ...3,276,030 6.279.350 5.495.700 44.600 ....4
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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