Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 20, 2024

You own an electronics store with a merchandise book value of $245,000. You conduct a physical inventory and find the value to be $237,000. Your

You own an electronics store with a merchandise book value of $245,000. You conduct a physical inventory and find the value to be $237,000. Your total sales between inventories totaled $360,000. Calculate the shrinkage as a percentage of sales.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren

3rd Edition

0131800345, 978-0131800342

More Books

Students also viewed these Accounting questions

Question

★★★★★

A spar buoy (see Prob. 2.113) has a period T of vertical (heave) oscillation which depends upon the waterline cross-sectional area A, buoy mass m, and fluid specific weight . How does the...

Answered: 1 week ago

Question

★★★★★

Basins of Attraction Problems each specify one of the competition scenarios in the previous set of problems. For each stable equilibrium point in the given model, find and color the set of points in...

Answered: 1 week ago

Question

★★★★★

=+ Identify the ethical dilemma in this scenario.

Answered: 1 week ago

Question

★★★★★

In January, gross earnings in Gyro Company totaled $70,000. All earnings are subject to 8% FICA taxes, 5.4% state unemployment taxes, and 0.8% federal unemployment taxes. Prepare the entry to record...

Answered: 1 week ago

Question

★★★★★

You are considering how to invest part of your retirement savings. You have decided to put $ 6 0 0 , 0 0 0 into three stocks: 5 6 % of the money in GoldFinger ( currently $ 1 7 / share ) , 1 4 % of...

Answered: 1 week ago

Question

★★★★★

On July 1 , 2 0 1 9 , the City of Belvedere accepted a gift of cash in the amount of $ 3 , 3 3 0 , 0 0 0 from a number of individuals and foundations and signed an agreement to establish a private -...

Answered: 1 week ago

Question

★★★★★

The Austin Manufacturing Company wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Month Cost of Electricity Direct Labor Hours January...

Answered: 1 week ago

Question

★★★★★

12. Portfolio Variance (LO2, CFA5). Use the following information to calculate the expected return and standard deviation of a portfolio that is 50 percent invested in 3 Doors, Inc., and 50 percent...

Answered: 1 week ago

Question

★★★★★

Can you calculate the NPV, IRR, and Payback for the following information: The minimum price for a condominium unit is $300,000, and buyers expect a high-quality project. Response to the initial...

Answered: 1 week ago

Question

★★★★★

Diman, lessor leased a lot to Dili, lessee for 15 years beginning January 2019, subject to the following terms and conditions: Mothly rental 200000 Advance rental for 2 years 480000 Security deposit...

Answered: 1 week ago

Question

★★★★★

1. Alejandro knows that he needs $32,100 per year to live comfortably now. He plans to retire in about 39 years and plans to be retired for about 23 years after that. Determine... a. [2 pts] how much...

Answered: 1 week ago

Question

★★★★★

=+1. What is the brand's character or personality?

Answered: 1 week ago

Question

★★★★★

=+3. Who is the audience?

Answered: 1 week ago

Question

★★★★★

=+4. What do they (audience members) currently think?

Answered: 1 week ago

Previous Question Next Question