Presented below is information related to Sage Company. Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales revenue Cost $201,049 1,388,000 Retail $278,000 2,166,000 94,400 16,100 33,900 5,100 2,219,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $
Presented below is information related to Sage Company. Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales revenue Cost $201,049 1,388,000 Retail $278,000 2,166,000 94,400 16,100 33,900 5,100 2,219,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not give solution in image format thanku
![Presented below is information related to Sage Company.
Beginning inventory
Purchases
Markups
Markup cancellations
Markdowns
Markdown cancellations
Sales revenue
Cost
$201,049
1,388,000
Retail
$278,000
2,166,000
Textbook and Media
94,400
16,100
33,900
5,100
2,219,000
Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g.
78% and final answer to O decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff52fff1c-fcd6-4b93-93ac-ca1e74bff025%2F771831b8-6dbd-45a0-9780-3c4b9456a63f%2Fd45inb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Presented below is information related to Sage Company.
Beginning inventory
Purchases
Markups
Markup cancellations
Markdowns
Markdown cancellations
Sales revenue
Cost
$201,049
1,388,000
Retail
$278,000
2,166,000
Textbook and Media
94,400
16,100
33,900
5,100
2,219,000
Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g.
78% and final answer to O decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method $
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