You own an electronics store with a merchandise book value of $245,000. You conduct a physical inventory and find the value to be $237,000.

Question

You own an electronics store with a merchandise book value of $245,000. You conduct a physical inventory and find the value to be $237,000. Your total sales between inventories totaled $360,000. Calculate the shrinkage as a percentage of sales.

0

Answers ( No )

    0
    2021-10-14T21:59:15+00:00

    0.22% shrinkage as a percent of sales.

    To calculate shrinkage you subtract the physical inventory value from the book value.

    245,000-237,000 = 800

    The shrinkage was $800. To find the shrinkage as a percent of sales take the shrinkage value and divide it by the sales value to get shrinkage as a percentage of sales.

    800 / 360,000 = 0.0022….

    Multiply Decimal by 100 to get the percentage

    100 * 0.0022…. = 0.22%

Leave an answer

Browse
Browse