Please dont provide answer in an image format thank you DokintencesAlmaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. The following dataare available:Beginning inventoryPurchasesFreight-inPurchase returns.Net markupsNet markdownsNormal spoilageNet salesBeginning inventoryPurchasesFreight-inPurchase returnsNet markupsCost$ 27,000117,600Net markdownsGoods available for saleCost-to-retail percentageNormal spoilage7,2707,000Required:Complete the table below to estimate the ending inventory and cost of goods sold, applying the conventional retail method using theinformation provided.Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with aminus sign.Retail$ 35,000180,000$9,00013,50010,5005,700167,000Cost27,000 $117,6007,270(7.000)144,870Retail35,000180,000(9,000)13,500219,500(10,500)209,000(5,700)Cost-to-RetallRatio69.32 % information provided.Inventory and cost of goods sold, applying the conventional retail method using theNote: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%. ). Enter amounts to be deducted with aminus sign.Beginning inventoryPurchasesFreight-inPurchase returns.Net markupsNet markdownsGoods available for saleCost-to-retail percentageNormal spoilageNet salesEstimated ending inventory at retailEstimated ending inventory at costEstimated cost of goods soldare the$Cost27,000 $117,6007,270(7,000)144,870$Retail35,000180,000(9,000)13,500219,500(10,500)209,000(5,700)(167,000)36,300Cost-to-RetailRatio69.32 %

Name: Please dont provide answer in an image format thank you DokintencesAlm
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Please dont provide answer in an image format thank you DokintencesAlmaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. The following dataare available:Beginning inventoryPurchasesFreight-

The cost-to-retail ratio evaluates how much of the retail price of a product is made up of costs.…

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Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available: Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales Cost $ 27,000 117,600 Beginning inventory Purchases 7,270 7,000 Freight-in Purchase returns Net markups Required: Complete the table below to estimate the ending inventory and cost of goods sold, applying the conventional retail method using the information provided. Retail $ 35,000 180,000 Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%. ). Enter amounts to be deducted with a minus sign. 9,000 13,500 10,500 5,700 167,000 $ Cost 27,000 $ 117,600 7,270 (7,000) Retail 35,000 180,000 (9,000) 13.500 Cost-to-Retail Ratio