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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.)

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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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
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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