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Required Information [The following information applies to the questions displayed below.] Frigid Supplies reported beginning inventory of 200 units, for a total cost of $2,000.
Required Information [The following information applies to the questions displayed below.] Frigid Supplies reported beginning inventory of 200 units, for a total cost of $2,000. The company had the following transactions during the month: Jan. 3 Sold 20 units on account at a selling price of $15 per unit. 6 Bought 30 units on account at a cost of $10 per unit. 16 Sold 30 units on account at a selling price of $15 per unit. 19 Sold 20 units on account at a selling price of $20 per unit. 26 Bought 10 units on account at a cost of $10 per unit. 31 Counted inventory and determined that 160 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 $100 3-b. What is the dollar amount of shrinkage that you were able to determine in perpetual Inventory system? Amount of Shrinkage
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