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Data relating to the computation of the inventory at December 31 for Dapper Inc. follow. Item Cost Retail Beginning inventory, Jan. 1 $403,200 $560,000 Purchases Markups, net Sales Markdowns, net 2,284,800 3,780,000 392,000 3,864,000 280,000 What is ending inventory at cost on December 31 using the average cost retail method? Select one: a. $334,011 b. $588,000 c. $355,019 О d. $295,120

Data relating to the computation of the inventory at December 31 for Dapper Inc. follow. Item Cost Retail Beginning inventory, Jan. 1 $403,200 $560,000 Purchases Markups, net Sales Markdowns, net 2,284,800 3,780,000 392,000 3,864,000 280,000 What is ending inventory at cost on December 31 using the average cost retail method? Select one: a. $334,011 b. $588,000 c. $355,019 О d. $295,120

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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Data relating to the computation of the inventory at December 31 for Dapper Inc. follow. Item Cost Retail Beginning inventory, Jan. 1 $403,200 $560,000 Purchases Markups, net Sales Markdowns, net 2,284,800 3,780,000 392,000 3,864,000 280,000 What is ending inventory at cost on December 31 using the average cost retail method? Select one: a. $334,011 b. $588,000 c. $355,019 О d. $295,120
Transcribed Image Text:Data relating to the computation of the inventory at December 31 for Dapper Inc. follow. Item Cost Retail Beginning inventory, Jan. 1 $403,200 $560,000 Purchases Markups, net Sales Markdowns, net 2,284,800 3,780,000 392,000 3,864,000 280,000 What is ending inventory at cost on December 31 using the average cost retail method? Select one: a. $334,011 b. $588,000 c. $355,019 О d. $295,120
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