The records of Pharoah's Boutique report the following data for the month of April. Sales £108,600 Purchases (at cost) £49,700 Sales returns 1,900 Purchases (at sales price) 92,100 Markups 9,200 Purchase returns (at cost) 1,900 Markup cancellations 1,300 Purchase returns (at sales price) 2,800 Markdowns 8,300 Beginning inventory (at cost) 35,220 Markdown cancellations 2,600 Beginning inventory (at sales price) 45,000 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method £
The records of Pharoah's Boutique report the following data for the month of April. Sales £108,600 Purchases (at cost) £49,700 Sales returns 1,900 Purchases (at sales price) 92,100 Markups 9,200 Purchase returns (at cost) 1,900 Markup cancellations 1,300 Purchase returns (at sales price) 2,800 Markdowns 8,300 Beginning inventory (at cost) 35,220 Markdown cancellations 2,600 Beginning inventory (at sales price) 45,000 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method £
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 46E
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