### 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 $

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 2.7C

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