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Nord Store's perpetual accounting system indicated ending inventory of $20,200, cost of goods sold of $101,000, and net sales of $152,000. A year-end inventory count
Nord Store's perpetual accounting system indicated ending inventory of $20,200, cost of goods sold of $101,000, and net sales of $152,000. A year-end inventory count determined goods costing $15,100 were actually on hand a. Calculate the cost of shrinkage. b. Calculate an adjusted cost of goods sold (assuming shrinkage is charged to cost of goods sold). c. Calculate gross profit percentage before shrinkage. d. Calculate gross profit percentage after shrinkage. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Calculate the cost of shrinkage. The Cost of Shrinkage Shrinkage a. Calculate the cost of shrinkage. b. Calculate an adjusted cost of goods sold (assuming shrinkage is charged to cost of goods sold). c. Calculate gross profit percentage before shrinkage. d. Calculate gross profit percentage after shrinkage. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Calculate an adjusted cost of goods sold (assuming shrinkage is charged to cost of goods sold). Adjusted Cost of Goods Sold a. Calculate the cost of shrinkage. b. Calculate an adjusted cost of goods sold (assuming shrinkage is charged to cost of goods sold). c. Calculate gross profit percentage before shrinkage. d. Calculate gross profit percentage after shrinkage. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Calculate gross profit percentage before shrinkage. Gross Profit Percentage Numerator Denominator a. Calculate the cost of shrinkage. b. Calculate an adjusted cost of goods sold (assuming shrinkage is charged to cost of goods sold). c. Calculate gross profit percentage before shrinkage. d. Calculate gross profit percentage after shrinkage. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Calculate gross profit percentage after shrinkage. Gross Profit Percentage Numerator Denominator
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