Presented below is information related to Swifty Inc. Inventory, 12/31/25 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) Cost $246,800 59,000 974,100 1,445,200 17,800 - I Retail 42,800 $384,500 81,500 1,426,700 98,600 118,000 40,200 45,400 20,000 7,800 4,600
Presented below is information related to Swifty Inc. Inventory, 12/31/25 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) Cost $246,800 59,000 974,100 1,445,200 17,800 - I Retail 42,800 $384,500 81,500 1,426,700 98,600 118,000 40,200 45,400 20,000 7,800 4,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
aj.4
![Assuming that Swifty Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31,
2026.
Ending inventory using the conventional retail inventory method](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2de78cf-cc0b-4732-97f1-d9204d2d7c31%2Fe3e91238-bd98-4c79-afb4-2bfcb84eacf5%2Fr8h4sq7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Assuming that Swifty Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31,
2026.
Ending inventory using the conventional retail inventory method
![Presented below is information related to Swifty Inc.
Inventory, 12/31/25
Purchases
Purchase returns
Purchase discounts
Gross sales revenue
Sales returns
Markups
Markup cancellations
Markdowns
Markdown cancellations
Freight-in
Employee discounts granted
Loss from breakage (normal)
Cost
$246,800
$384,500
974,100 1,445,200
59,000
17,800
-
I
42,800
Retail
81,500
1,426,700
98,600
118,000
40,200
45,400
20,000
7,800
4,600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2de78cf-cc0b-4732-97f1-d9204d2d7c31%2Fe3e91238-bd98-4c79-afb4-2bfcb84eacf5%2Fzamtn3p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Presented below is information related to Swifty Inc.
Inventory, 12/31/25
Purchases
Purchase returns
Purchase discounts
Gross sales revenue
Sales returns
Markups
Markup cancellations
Markdowns
Markdown cancellations
Freight-in
Employee discounts granted
Loss from breakage (normal)
Cost
$246,800
$384,500
974,100 1,445,200
59,000
17,800
-
I
42,800
Retail
81,500
1,426,700
98,600
118,000
40,200
45,400
20,000
7,800
4,600
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