7. Wicker Book Store has paperback books marked down 20%. What is the saleprice of three books that regularly sell for $4.95, $3.55, and $2.85?8. During a September Sale. Corfman Camper Supply has marked down all items30%. Jill Miller purchases a deand a set or barbecuetoells for $74.88the total saleprice?

Mark down percentage is the percentage decrease in the price of the commodity. The sales revenue is…

7. Wicker Book Store has paperback books marked down 20%. What is the sale price of three books that regularly sell for $4.95, $3.55, and $2.85? 8. During a September Sale Corfman Camner Supply has markod

7. Wicker Book Store has paperback books marked down 20%. What is the sale price of three books that regularly sell for $4.95, $3.55, and $2.85? 8. During a September Sale Corfman Camner Supply has markod

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

7. Wicker Book Store has paperback books marked down 20%. What is the sale
price of three books that regularly sell for $4.95, $3.55, and $2.85?
8. During a September Sale. Corfman Camper Supply has marked down all items
30%. Jill Miller purchases a de
and a set or barbecueto
ells for $74.88
the total sale
price?

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Ma3. Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $48,000 in inventory. During the quarter the company purchases $10,600 of new inventory from a vendor, returned $1,000 of inventory to the vendor, and took advantage of discounts from the vendor of $380. At the end of the quarter the balance in inventory is $35,500. What is the cost of goods sold?
Assume the perpetual inventory; system is used unless stated otherwise. Round all numbers to the nearest whole dollar unless stated otherwise. Journalizing sales transactions Journalize the following sales transactions for Antique Mall. Explanations are not required. The company estimates sales returns at the end of each month.
is this correct? Current Attempt in Progress Your answer is incorrect. The records of Shamrock's Boutique report the following data for the month of April. Sales revenue $183,000 Purchases (at cost) $8,000 Sales returns 4,400 Purchases (at sales price) 187,000 Additional markups 18,200 Purchase returns (at cost) 4,400 Markup cancellations 3,200 Purchase returns (at sales price) 6,500 Markdowns 19,100 Beginning inventory (at cost) 89,500 Markdown cancellations 6,200 Beginning inventory (at sales price) 97,000 Freight on purchases 2,400 Compute the ending inventory by the conventional retail inventory method. Ending inventory using conventional retail inventory method 61860
Swifty Distribution markets CDs of numerous performing artists. At the beginning of March, Swifty had in beginning inventory 3,900 CDs with a unit cost of $7. During March, Swifty made the following purchases of CDs. March 5 March 13 4,875 (a) 6,825 $8 $9 March 21 X Your answer is incorrect. March 26 During March 21,000 units were sold. Swifty uses a periodic inventory system. Determine the cost of goods available for sale. 7,850 @ $10 $11 Cost of goods available for sale $ 5,800 181725
8. During a September Sale, Corfman Camper Supply has marked down all items 30%. Jill Miller purchases a deluxe portable grill that regularly sells for $74.88 and a set of barbecue tools that regularly sell for $6.88. What is the total sale price? 9. Robin Suen shopped at Walbank Department Store during the end-of-summer sale. All luggage was marked down 35% She purchased a suitcase that regularly sells for $44.95, a garment bag that regularly sels for S80.00 and a tote nanin
Buttons and Bows received a shipment with a list price of $2,600. The store received a trade discount of 25/15. How much does the store need to pay for this shipment?
Ending Inventory and Cost of goods sold using LIFO?
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A buyer purchased 575 cropped tank tops to retail at $12.00. At the original price, 108 pieces sold. The buyer had a POS markdown to $9.99 and 152 pieces sold. The buyer had another POS markdown to $6.99 and 258 units sold. Calculate POS Markdown % for the sale
Frigid Supplies reported beginning inventory of 200 units, for a total cost of $2,000. The companyhad the following transactions during the month:Jan. 3 Sold 20 units on account at a selling price of $15 per unit.6 Bought 30 units on account at a cost of $10 per unit.16 Sold 30 units on account at a selling price of $15 per unit.19 Sold 20 units on account at a selling price of $20 per unit.26 Bought 10 units on account at a cost of $10 per unit.31 Counted inventory and determined that 160 units were on hand.Required:1. Prepare the journal entries that would be recorded using a periodic inventory system.2. Prepare the journal entries that would be recorded using a perpetual inventory system,including any “book-to-physical” adjustment that might be needed.TIP: Adjust for shrinkage by decreasing Inventory and increasing Cost of Goods Sold.3. What is the dollar amount of shrinkage that you were able to determine in (a) requirement 1,and (b) requirement 2? Enter CD (cannot determine) if…
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