Presented below is information related to Sarasota Inc. Inventory, 12/31/25 Purchases Purchase returns Purchase discounts Gross sales (before employee discounts) Sales returns Markups Markup cancellations Markdowns Markdown cancellations Cost $173,800 750,500 45,900 13,100 Retail $262,000 1,319,000 64,300 1,232,000 50,500 67,600 15,700 82,100 19,500
Presented below is information related to Sarasota Inc. Inventory, 12/31/25 Purchases Purchase returns Purchase discounts Gross sales (before employee discounts) Sales returns Markups Markup cancellations Markdowns Markdown cancellations Cost $173,800 750,500 45,900 13,100 Retail $262,000 1,319,000 64,300 1,232,000 50,500 67,600 15,700 82,100 19,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
Transcribed Image Text:Presented below is information related to Sarasota Inc.
Inventory, 12/31/25
Purchases
Purchase returns
Purchase discounts
Gross sales (before employee discounts)
Sales returns
Markups
Markup cancellations
Markdowns
Markdown cancellations
Cost
$173,800
750,500
45,900
13,100
Retail
$262,000
1,319,000
64,300
1,232,000
50,500
67,600
15,700
82,100
19,500
Transcribed Image Text:Markdown cancellations
Freight-in
Employee discounts granted
Loss from breakage (normal)
40,100
19,500
11,100
8,900
Assuming that Sarasota Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2026. (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 the conventional retail inventory method
$
LA
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