1)

2)

Frigid Supplies reported beginning inventory of 380 units, for a total cost of $3,800. The company had the following transactions during the month: Jan. 3 Sold 40 units on account at a selling price of $16 per unit. 6 Bought 45 units on account at a cost of $10 per unit 16 Sold 45 units on account at a selling price of $16 per unit. 19 Sold 40 units on account at a selling price of $21 per unit. 26 Bought 26 units on account at a cost of $10 per unit. 31 Counted inventory and determined that 300 units were on hand. 3-a. What is the dollar amount of shrinkage that you were able to determine in periodic inventory system? One cannot determine O $260 3-b. What is the dollar smount of shrinkege tnat you were able to determine in perpetual inventory system