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Using the Following Information, What Amount of "Shrinkage" Would Be

question 85

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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\begin{array}{|l|r}\text { Inventory at the beginning of the year } & \$ 300,000 \\\hline \text { Inventory based on count at the end of the year } & \$ 650,000 \\\hline \text { Inventory purchases during the year } & \$ 1,000,000\end{array}


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