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The Tuck Shop began the current month with inventory costing $14,250, then purchased inventory at a cost of $41,000. The perpetual inventory system indicates that
The Tuck Shop began the current month with inventory costing $14,250, then purchased inventory at a cost of $41,000. The perpetual inventory system indicates that inventory costing $40,310 was sold during the month for $48,000. If an inventory count shows that inventory costing $14,100 is actually on hand at month-end, what amount of shrinkage occurred during the month? |
$14,095.
$7,000.
$840.
$14,940.
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