Presented below is information related to Oriole Company. Cost Retail Beginning inventory $290,370 $282,000 Purchases 1,356,000 2,135,000 Markups 93,700 Markup cancellations 16,200 Markdowns 33,800 Markdown cancellations 4,800 Sales revenue 2,231,000 Compute the inventory by the conventional retail inventory method. Ending inventory using conventional retail inventory method $

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Presented below is information related to Oriole Company.
Cost
Retail
Beginning inventory
$290,370
$282,000
Purchases
1,356,000
2,135,000
Markups
93,700
Markup cancellations
16,200
Markdowns
33,800
Markdown cancellations
4,800
Sales revenue
2,231,000
Compute the inventory by the conventional retail inventory method.
Ending inventory using conventional retail inventory method
$
Transcribed Image Text:Presented below is information related to Oriole Company. Cost Retail Beginning inventory $290,370 $282,000 Purchases 1,356,000 2,135,000 Markups 93,700 Markup cancellations 16,200 Markdowns 33,800 Markdown cancellations 4,800 Sales revenue 2,231,000 Compute the inventory by the conventional retail inventory method. Ending inventory using conventional retail inventory method $
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