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Presented below is information related to Bridgeport Inc. Inventory, 12/31/17 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) Cost $251,100 906,368 60,000 18,100 42,300 Retail $390,400 1,447,600 79,400 1,426,100 97,300 119,700 39,500 45,800 20,000 8,200 4,100 Assuming that Bridgeport Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2018. (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 the conventional retail inventory method $

Presented below is information related to Bridgeport Inc. Inventory, 12/31/17 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) Cost $251,100 906,368 60,000 18,100 42,300 Retail $390,400 1,447,600 79,400 1,426,100 97,300 119,700 39,500 45,800 20,000 8,200 4,100 Assuming that Bridgeport Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2018. (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 the 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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Problem 9-9 Presented below is information related to Bridgeport Inc. Inventory, 12/31/17 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) Cost $251,100 906,368 60,000 18,100 42,300 Retail $390,400 1,447,600 79,400 1,426,100 97,300 119,700 39,500 45,800 20,000 - 8,200 4,100 Assuming that Bridgeport Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2018. (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 the conventional retail inventory method $
Transcribed Image Text:Problem 9-9 Presented below is information related to Bridgeport Inc. Inventory, 12/31/17 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) Cost $251,100 906,368 60,000 18,100 42,300 Retail $390,400 1,447,600 79,400 1,426,100 97,300 119,700 39,500 45,800 20,000 - 8,200 4,100 Assuming that Bridgeport Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2018. (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 the conventional retail inventory method $
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