The Tuck Shop Began the Current Month with Inventory Costing

question 81

Multiple Choice

The Tuck Shop began the current month with inventory costing $10,000,then purchased inventory at a cost of $35,000.The perpetual inventory system indicates that inventory costing $30,000 was sold during the month for $40,000.If an inventory count shows that inventory costing $14,500 is actually on hand at month-end,what amount of shrinkage occurred during the month?

• A)$500.
• B)$5,000.
• C)$14,495.
• D)$15,000.

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Definitions:

Disfranchisement

The act of denying someone the right to vote in public elections, often based on legal, socioeconomic, or racial criteria.

Appeal of Forty Thousand

A petition to the Pennsylvania legislature in 1838, calling for the right to vote for Black men, signed by over 40,000 Black and white citizens.

Conscience

An inner feeling or voice acting as a guide to the rightness or wrongness of one's behavior, often associated with moral and ethical judgments.

Alexander Hamilton

A Founding Father of the United States, who was an influential interpreter and promoter of the U.S. Constitution, as well as the founder of the nation's financial system, the Federalist Party, and the Coast Guard.