Acc255 week 5 Problem 6-6BB


Question Description:

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Acc255 week 5 Problem 6-6BB. The records or Alaina Co. provide the following information for the year ended Problem 6-6BB Retail inventory method P4 Fundamental Accounting Principles: Larson-Wild-Chiappetta, Seventeenth Edition 6-6B. The records or Alaina Co. provide the following information for the year ended December 31. The records or Alaina Co. provide the following information for the year ended December 31. At Cost At Retail January 1 beginning inventory…………………….. $81,670 114,610 Cost of goods purchased………………………….. 492,250 751,730 Sales ……………………………………………… 786,120 Sales returns……………………………………… 4,480 Required 1. Use the retail inventory method to estimate the company’s year-end inventory. 2. A year-end physical inventory at retail prices yields a total inventory of $78,550. Prepare a calculation showing the company’s loss from shrinkage at cost and at ratail. Check (1)1inventory $55,902 costs; (2) inventory shortage at cost $4059

Answer

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