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5.         What causes shortage? Assume the following: Beginning Inventory: $ 33,456 Purchases/Receipts:     543,693 Sales:           &nbs

5.         What causes shortage?

Assume the following:

Beginning Inventory: $ 33,456

Purchases/Receipts:     543,693

Sales:                                                   478,653

Retail Reductions:         67,543

The physical inventory yields a value of $25,432. Is the department over or short, and if so by how much?

please show your work, thank you

business   accounting   
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Answer #1

BEGNIng inventory = $33456

+ Purchase. = $ 543693

Less Sales . = $478653

Less retail . = $ 67543

=. $ 30953

Actual Physical = $ 25432

Shortage = $5521

THE DEPARTMENT IS SHORT BY $ 5521 THIS SHORTAGE CAN BE BECAUSE OF THEFT OF IN CASE THE STOCKS GETS WASTED/ DEPLETED.

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