Question
Find (a) estimated physical inventory and (b) actual shortage or overage percent when closing physical inventory is $77,227. Retail Openinginventory$159,760 Netpurchases297,420 Net transfers out1,370 Gross
Find (a) estimated physical inventory and (b) actual shortage or overage percent when closing physical inventory is $77,227.
Retail
Openinginventory$159,760
Netpurchases297,420
Net transfers out1,370
Gross sales358,110
Customerreturns23,428
Net markdowns38,743
Employeediscounts1,817
Estimatedshortage0.80%
- estimated physicalinventory______________
- actual shortage or overagepercent______________
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Managerial Accounting
Authors: John J Wild, Ken W. Shaw, Barbara Chiappetta
7th edition
1260482936, 978-1260482935
