Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Exercise 9-22
x Your answer is incorrect. Try again.
The records of Nash's Boutique report the following data for the month of April.
Sales revenue
Purchases (at cost)
Sales returns
Purchases (at sales price)
Purchase returns (at cost)
Purchase returns (at sales price)
Markups
Markup cancellations
Markdowns
Markdown cancellations
Freight on purchases
$103,700
2,100
9,600
1,600
8,700
3,000
2,400
Beginning inventory (at cost)
Beginning inventory (at sales price)
LINK TO TEXT
Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and
final answer to 0 decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method
$50,700
95,600
2,100
3,200
26,376
48,400
x
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