107 10.108 Given the following information calculate:109 A. The closing book inventory at cost:110 B. The gross cost of merch sold:111112CostRetail$65,250.00 $145,000.00$51,750.00 $115,000.00$9,000.00opening inventory113gross purchases114returns to vendors$20,000.00115additional markup$2,000.00116freight$3,000.00117total merch handledCMU =%3!118net sales$95,000.00 cost % =%3D19$18,000.00$2,000.00net markdowns20employee discounts21total retail deductions22closing book inventory23gross cost of merch sold24

Name: 107 10.108 Given the following information calculate:109 A. The closi
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Description: 107 10.108 Given the following information calculate:109 A. The closing book inventory at cost:110 B. The gross cost of merch sold:111112CostRetail$65,250.00 $145,000.00$51,750.00 $115,000.00$9,000.00opening inventory113gross purchases114returns to

Retail inventory method refers to an accounting method which is used by the companies to compute the…

Answered: Given the following information…

Business

Accounting

Given the following information calculate: A. The closing book inventory at cost: B. The gross cost of merch sold:

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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