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ง c The records of Marigold Menswear report the following data for the month of September: Sales $118,300 Purchases (at cost) $67,600 Sales returns 2,600 Purchases (at sales price) 121,000 Additional markups 10,900 Purchase returns (at cost) 3,400 Markup cancellations 2,500 Purchase returns (at sales price) 3,600 Markdowns 9,900 Beginning inventory (at cost) 41,400 Markdown cancellations 3,100 Beginning inventory (at sales price) 49,800 Freight on purchases 4,200 Show Transcribed Text с Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to O decimal places, e.g. 5,275.) Ending inventory, at retail $ 53100 Ending inventory, at cost $ 33203

ง c The records of Marigold Menswear report the following data for the month of September: Sales $118,300 Purchases (at cost) $67,600 Sales returns 2,600 Purchases (at sales price) 121,000 Additional markups 10,900 Purchase returns (at cost) 3,400 Markup cancellations 2,500 Purchase returns (at sales price) 3,600 Markdowns 9,900 Beginning inventory (at cost) 41,400 Markdown cancellations 3,100 Beginning inventory (at sales price) 49,800 Freight on purchases 4,200 Show Transcribed Text с Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to O decimal places, e.g. 5,275.) Ending inventory, at retail $ 53100 Ending inventory, at cost $ 33203

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The records of Marigold Menswear report the following data for the month of September: Sales $118,300 Purchases (at cost) $67,600 Sales returns 2,600 Purchases (at sales price) 121,000 Additional markups 10,900 Purchase returns (at cost) 3,400 Markup cancellations 2,500 Purchase returns (at sales price) 3,600 Markdowns 9,900 Beginning inventory (at cost) 41,400 Markdown cancellations 3,100 Beginning inventory (at sales price) 49,800 Freight on purchases 4,200 Show Transcribed Text Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to O decimal places, e.g. 5,275.) Ending inventory, at retail 53100 Ending inventory, at cost $ 33203
Transcribed Image Text:The records of Marigold Menswear report the following data for the month of September: Sales $118,300 Purchases (at cost) $67,600 Sales returns 2,600 Purchases (at sales price) 121,000 Additional markups 10,900 Purchase returns (at cost) 3,400 Markup cancellations 2,500 Purchase returns (at sales price) 3,600 Markdowns 9,900 Beginning inventory (at cost) 41,400 Markdown cancellations 3,100 Beginning inventory (at sales price) 49,800 Freight on purchases 4,200 Show Transcribed Text Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to O decimal places, e.g. 5,275.) Ending inventory, at retail 53100 Ending inventory, at cost $ 33203
Assuming that a physical count of the inventory determined that the actual ending inventory at retail prices at the end of September was $40,500, estimate the loss due to shrinkage and theft. (Round intermediate calculations to 2 decimal places, e.g. 15.21% and the final answer to O decimal places, e.g. 5,275.) Estimated loss due to shrinkage and theft Show Transcribed Text 7879
Transcribed Image Text:Assuming that a physical count of the inventory determined that the actual ending inventory at retail prices at the end of September was $40,500, estimate the loss due to shrinkage and theft. (Round intermediate calculations to 2 decimal places, e.g. 15.21% and the final answer to O decimal places, e.g. 5,275.) Estimated loss due to shrinkage and theft Show Transcribed Text 7879
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