E8.22 (LO 5) (Retail Inventory Method) The records of Ellen's Boutique report the following data for the month of April. $99,000 Purchases (at cost) Purchases (at sales price) 2,000 10,000 Purchase returns (at cost) 1,500 Purchase returns (at sales price) 9,300 Beginning inventory (at cost) 2,800 Beginning inventory (at sales price) 2,400 Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases Instructions Compute the ending inventory by the conventional retail inventory method. $48,000 88,000 2,000 3,000 30,000 46,500

E8.22 (LO 5) (Retail Inventory Method) The records of Ellen's Boutique report the following data for the month of April. $99,000 Purchases (at cost) Purchases (at sales price) 2,000 10,000 Purchase returns (at cost) 1,500 Purchase returns (at sales price) 9,300 Beginning inventory (at cost) 2,800 Beginning inventory (at sales price) 2,400 Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases Instructions Compute the ending inventory by the conventional retail inventory method. $48,000 88,000 2,000 3,000 30,000 46,500

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Description: E8.22 (LO 5) (Retail Inventory Method) The records of Ellen's Boutique report the following data for the month of April.$99,000 Purchases (at cost)2,000 Purchases (at sales price)10,000 Purchase returns (at cost)1,500 Purchase returns (at sales pric

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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