Arecent physical inventory at a department store reports a merchandise value of $875,435. the merchandise book value was $907,340. the merchandise sales were $1,988,345. what is the shrinkage as a percentage of sales? (shrinkage is the difference between the book value and the merchandise value from a physical inventory.)

The shrinkage as a percentage of sales is 1.6%.

Step-by-step explanation:

In order to find the percentage of the sales that can be contributed to shrinkage, we first need to find the amount of shrinkage between the book value ($907,340) and the physical inventory ($875,435).  The difference between these two values is $31,905.  With this value of shrinkage, I then divide by the total amount in sales, which is $1,988,345.  This would give me an overall percentage of 1.6%, which represents the shrinkage as a percentage of sales.  

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60 for the first and 130 for the second

step-by-step explanation: