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Windsor, Incorporated uses a perpetual inventory system and reported $526,000 of inventory at the beginning of the month based on a physical count of inventory.
Windsor, Incorporated uses a perpetual inventory system and reported $526,000 of inventory at the beginning of the month based on a physical count of inventory. During the month, the company bought $68,900 of inventory and sold inventory that had cost $43,000. At the end of the month, the physical count of inventory shows $550,000 on hand. How much shrinkage occurred during the month?Windsor, Incorporated uses a perpetual inventory system and reported $526,000 of inventory at the beginning of the month
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