Dunedin Inc.began the month with inventory of $10,000 and then purchased inventory at a cost of $105,000.The perpetual inventory system indicates that inventory costing $94,000 was sold during the month for $141,000.An inventory count shows that inventory costing $20,100 is actually on hand at month-end.
Required:
What amount of shrinkage occurred during the month?

Question

Quizplus · Accepted Answer

The Answer of Dunedin Inc.began the month with inventory of $10,000 and then purchased inventory at a cost of $105,000.The perpetual inventory system indicates that inventory costing $94,000 was sold during the month for $141,000.An inventory count shows that inventory costing $20,100 is actually on hand at month-end.
Required:
What amount of shrinkage occurred during the month?