uses a perpetual inventory system and reported $526,000 of inventory at the beginning of the month based on a physical count of inventory. During the month, the company bought $59,200 of inventory and sold inventory that had cost $40,250. At the end of the month, the physical count of inventory shows $528,000 on hand. How much shrinkage occurred during the month

If the findings and the results are not presented properly, the research completed was a waste of time and money. true false

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

Reagan corporation is a wholesale distributor of truck replacement parts. initial amounts taken from reagan's records are as follows: