The records of Saturn Co. provide the following information for the year ended December 31. Required 1.
Question:
The records of Saturn Co. provide the following information for the year ended December 31.
Required
1. Use the retail inventory method to estimate the company’s year-end inventory.
2. A year-end physical inventory at retail prices yields a total inventory of $78,550. Prepare a calculation showing the company’s loss from shrinkage at cost and atretail.
Transcribed Image Text:
At Cost At Retail January I beginning inventory.. Cost of goods purchased Sales . 81,670 $114,610 492,250 75.730 786,120 4.480 ..
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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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