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Presented below is information related to Ricky Henderson Company.     Cost   Retail Beginning inventory   $200,000   $280,000 Purchases   1,375,000   2,140,000 Markups       95,000 Markup cancellations       15,000 Markdowns       35,000 Markdown cancellations       5,000 Sales revenue       2,200,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method   $

Presented below is information related to Ricky Henderson Company.     Cost   Retail Beginning inventory   $200,000   $280,000 Purchases   1,375,000   2,140,000 Markups       95,000 Markup cancellations       15,000 Markdowns       35,000 Markdown cancellations       5,000 Sales revenue       2,200,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method   $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Presented below is information related to Ricky Henderson Company.

   
Cost
  
Retail
Beginning inventory
   $200,000   $280,000
Purchases
   1,375,000   2,140,000
Markups
       95,000
Markup cancellations
       15,000
Markdowns
       35,000
Markdown cancellations
       5,000
Sales revenue
       2,200,000


Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)

Ending inventory using conventional retail inventory method  
$
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