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ace electronics uses a perpetual inventory system. on may 1 beginning inventory was $100,000. during may ace purchased $35,000 of inventory and sold $71,000 of

ace electronics uses a perpetual inventory system. on may 1 beginning inventory was $100,000. during may ace purchased $35,000 of inventory and sold $71,000 of inventory. after the store closed on may 31 employees counted the inventory in the store and found that $60,000 of inventory remained unsold. what was Ace's' inventory shrinkage

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