Alvarado Company began the current month with inventory costing $26,315, then purchased inventory at a cost of $65,690. The perpetual inventory system indicates that inventory costing $73,000 was sold during the month for $76,850. If an inventory count shows that inventory costing $18,700 is actually on hand at month-end, what amount of shrinkage occurred during the month?
A. $18,695
B. $305
C. $11,160
D. $19,005
Answer: B
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Answer the following statement true (T) or false (F)
A company issuing prospective financial statements can receive a compilation on the statements but not an examination
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