You have just graduated with a business diploma in management and have been hired as the inventory manager for a local sporting goods store. Your first task is to review and assess the following information:

Required
Using the elements of critical thinking described on the inside front cover, comment.

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2014 2013 Cost of merchandise sold to customers in sales transactions....... $480,000 $320,000 ?84,000 510,000 240,000 14,000 25,500 12,000 e inventory balance, begi Invoice cost of merchandise purchases Shrinkage determined at end of year Cost of transportation-in Cost of merchandise returned by customers and restored 2,500 Purchase discounts received Purchase returns and allowances received 115,000 22,400 2,400 1,200 5,100 2,550