Calculating shrinkage in a perpetual inventory system, Accounting Basics

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Calculating shrinkage in a perpetual inventory system

Question: Calculating Shrinkage in a Perpetual Inventory System Corey's Campus Store has $50,000 of inventory on hand at the beginning of the month. During the month, the company buys $8,000 of merchandise and sells merchandise that had cost $30,000. At the end of the month, $25,000 of inventory is on hand. How much "shrinkage" occurred during the month?

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