### Marigold Company Inventory InformationThe following data pertains to the Marigold Company:| | Cost | Retail ||--------------------------|----------|-----------|| **Beginning inventory** | $53,460 | $100,800 || **Purchases (net)** | $128,370 | $217,500 || **Net markups** | | $10,863 || **Net markdowns** | | $26,515 || **Sales revenue** | | $198,640 |### Task (a)#### Problem:Compute the ending inventory at retail.#### Solution:To calculate the ending inventory at retail, use the provided information to complete the following:- Ending inventory: $ \_\_\_\_Note: The values are necessary to compute the ending inventory based on retail assay method formula.

The ending inventory comprises of the units that remains unsold at the end of the accounting period.…

Presented below is information related to Marigold Company. Cost Beginning inventory $53,460 Purchases (net) 128,370 Net markups Net markdowns Sales revenue (a) Compute the ending inventory at retail. Ending inventory Retail $100,800 217,500 10,863 26,515 198,640 $

Presented below is information related to Marigold Company. Cost Beginning inventory $53,460 Purchases (net) 128,370 Net markups Net markdowns Sales revenue (a) Compute the ending inventory at retail. Ending inventory Retail $100,800 217,500 10,863 26,515 198,640 $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 5E: Inventory Write-Down The following information is taken from Aden Companys records: Required: 1....

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Question

### Marigold Company Inventory Information

The following data pertains to the Marigold Company:

| | Cost | Retail |
|--------------------------|----------|-----------|
| **Beginning inventory** | $53,460 | $100,800 |
| **Purchases (net)** | $128,370 | $217,500 |
| **Net markups** | | $10,863 |
| **Net markdowns** | | $26,515 |
| **Sales revenue** | | $198,640 |

### Task (a)

#### Problem:
Compute the ending inventory at retail.

#### Solution:
To calculate the ending inventory at retail, use the provided information to complete the following:

- Ending inventory: $ \_\_\_\_

Note: The values are necessary to compute the ending inventory based on retail assay method formula.

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