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Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method

Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method

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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Your answer is incorrect. The records of Culver's Boutique report the following data for the month of April. Purchases (at cost) Purchases (at sales price) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $98,700 2,000 9,300 1,400 9,500 2,800 2,400 Purchase returns (at cost) Purchase returns (at sales price). Beginning inventory (at cost) Beginning inventory (at sales price) $45,500 90,400 2,000 3,100 34,755 46,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method. $
Transcribed Image Text:Your answer is incorrect. The records of Culver's Boutique report the following data for the month of April. Purchases (at cost) Purchases (at sales price) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $98,700 2,000 9,300 1,400 9,500 2,800 2,400 Purchase returns (at cost) Purchase returns (at sales price). Beginning inventory (at cost) Beginning inventory (at sales price) $45,500 90,400 2,000 3,100 34,755 46,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method. $
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