You are the store manager of a specialty store. Inventory is this weekend and you...
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Accounting
You are the store manager of a specialty store. Inventory is this weekend and you have been given and estimated shortage goal of 2.0%. Based on the below information answer the following questions. Opening Inventory Gross purchases Return to vendors Transfer in Transfer out Gross sales Customer returns Markdowns Markdown Cancellations Employee discounts Closing physical inventory $ 28,642 136,118 3,408 1,860 1,030 122,260 5,816 8,348 758 560 33,989 Discussion Questions. 1. What is your estimated physical inventory? 2. Do you have an overage or a shortage? How much and what is the percent? 3. What is your first course of action? And Name three things that could have contributed to your inventory results
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