Please do not give solution in image format thanku cesRequired informationNULE. RUUTU Tau Caicurativi & veciniai procesie., V.163 uru ve entered as 16... Ser avis deminus sign.Beginning inventoryPurchasesFreight-inPurchase returnsNet markupsNet markdownsGoods available for saleCost-to-retail percentage (conventional retail method)Normal breakageNet sales:SalesEmployee discountsEstimated ending inventory at retailEstimated ending inventory at costEstimated cost of goods soldCost$ 47,000214,00019,6807,500Retail$ 67,000407,000Beginning inventoryPurchasesFreight-inPurchase returnsNet markupsNet markdownsNormal breakageNet salesEmployee discountsSales are recorded net of employee discounts.Cost-to-retail percentage$9,5006,5004,2009,500287,0002,500Cost47,000 $47,0003$Retail67,00067,000Required informationLeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financialstatements. The following data pertain to one of its largest departments for the month of March:67,00067,0002. Recompute the cost-to-retail percentage using the average cost method.Note: Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34%).Cost-to-RetailRatio% Required information.LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financialstatements. The following data pertain to one of its largest departments for the month of March:Beginning inventoryPurchasesCost$ 47,000214,000Freight-inPurchase returns.Net markupsNet markdownsNormal breakageNet salesEmployee discounts.Sales are recorded net of employee discounts.Beginning inventoryPurchasesFreight-inPurchase returnsNet markupsRetail$ 67,000407,00019,68017,500Required:1. Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method.Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with aminus sign.9,5006,5004,2009,500287,0002,500$Cost47,000 $Retail67,000wwwCost-to-RetailRatio

Name: Please do not give solution in image format thanku cesRequired informa
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Please do not give solution in image format thanku cesRequired informationNULE. RUUTU Tau Caicurativi & veciniai procesie., V.163 uru ve entered as 16... Ser avis deminus sign.Beginning inventoryPurchasesFreight-inPurchase returnsNet markupsNet markd

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Required information LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March: Cost $ 47,000 214,000 19,680 7,500 Retail $ 67,000 407,000 Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal breakage Net sales Employee discounts Sales are recorded net of employee discounts. 9,500 6,500 4,200 9,500 287,000 2,500 Required: 1. Compute estimated ending inventory and cost of goods sold for March applying the conventional retail method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.