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What amount of shrinkage would be identified

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Question - Using the following information, what amount of "shrinkage" would be identified under the periodic inventory system?

Inventory at the beginning of the year $300,000

Inventory based on count at the end of the year $650,000

Inventory purchases during the year $1,000,000

A. $300,000

B. $0

C. $700,000

D. $650,000

Reference no: EM133086135

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