Question 1: Calculating Shrinkage in a Perpetual Inventory System(12 points) Bison's Suburban Store has $5,000 of inventory on hand at the beginning of the month. During the month, the company buys $41.000 of merchandise and sells merchandise that had cost $31,000. At the end of the month, $12,000 of inventory is on hand. How much shrinkage occurred during the month? Beginning inventory Purchases Cost of Goods Sold Ending balance Inventory count Shrinkage Question 2: Inferring Missing Amounts Based on Income Statement Relationships (26 points) Cases A B Ic Sales revenue 750 900 750 900 Beginning inventory 150 Purchases 700 Cost of goods available for sales Cost of goods sold 300 Cost of ending inventory Gross profit 450 500