Compute estimated ending inventory and cost of goods sold for Marcn applying the conventional ret calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sig und rati Cost-to-Retail Ratio Cost Retail Beginning inventory Purchases 53,000 $ 220,000 14,068 (6,000) 73,000 413,000 Freight-in Purchase returns (8,500) Net markups 7,100 484,600 Net markdowns (4,800) Goods available for sale 281,068 479,800 Cost-to-retail percentage (conventional retail method) %
Compute estimated ending inventory and cost of goods sold for Marcn applying the conventional ret calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sig und rati Cost-to-Retail Ratio Cost Retail Beginning inventory Purchases 53,000 $ 220,000 14,068 (6,000) 73,000 413,000 Freight-in Purchase returns (8,500) Net markups 7,100 484,600 Net markdowns (4,800) Goods available for sale 281,068 479,800 Cost-to-retail percentage (conventional retail method) %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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