Multiple Choice
E.Flynn Company uses a perpetual inventory system and reported $500,000 of inventory at the beginning of the month based on a physical count of inventory.During the month,the company bought $45,000 of inventory and sold inventory that had cost $30,000.At the end of the month,the physical count of inventory shows $510,000 on hand.How much shrinkage occurred during the month?
A) $35,000
B) $25,000
C) $5,000
D) $10,000
Correct Answer:
Verified
Correct Answer:
Verified
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