ddd

Classified in Economy

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Chapter Four 


Book Inventory at Cost = Opening Inventory + Retail Additions - Retail Deductions

Retail Additions = Purchases(receipts), customer returns, transfers in 

Retail Deductions = Returns to vendor, net sales, markdowns, transfers out, etc. 

Net Sales = Customer Returns + Gross Sales 

Shortage/Overage $ = Book Inventory - Physical Inventory 

Shortage/Overage % = Shortage/Overage $ / Net Sales 

Physical > Book = overage 

Book > Physical = shortage 

Planned Shortage $ = Planned Shortage % X Net Sales 


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