Answer:
We are given:
Average sales of a major department store chain per day [tex]=1,340,000[/tex]
Number of days in a year [tex]=365[/tex]
Therefore, the total sales of one year [tex]1,340,000 \times 365 =489,100,000[/tex]
The shrinkage rate is 0.5%
Therefore, the losses for an entire year [tex]=0.5\% \times 489,100,000[/tex]
[tex]=0.005 \times 489,100,000[/tex]
[tex]=2,445,500[/tex]
Hence, its looses for an entire year is $2,445,500
