Business, 09.11.2019 00:31 blink182lovgabbie

The following information appears in petty company’s records for the year ended december 31: inventory, january 1 $ 325,000 purchases 1,150,000 purchase returns 40,000 freight in 30,000 sales 1,700,000 sales discounts 10,000 sales returns 15,000 on december 31, a physical inventory revealed that the ending inventory was only $210,000. petty’s gross profit on net sales has remained constant at 30 percent in recent years. petty suspects that some inventory may have been stolen by one of the company’s employees. at december 31, what is the estimated cost of the missing inventory?

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The following information appears in petty company’s records for the year ended december 31: invent...

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