Riverbed Inc. had beginning inventory of $22,200 at cost and $28,300 at retail. Net purchases were $158,800 at cost and $203,000 at retail. Net markups were $10,200, net markdowns were $5,800, and sales were $193,000. Calculate the ending inventory at cost using the retail method. (Round intermediate calculation to 2 decimal places, e.g. 15.21% and the final answer to 0 decimal places, e.g. 5,275.) Ending inventory $ 42700

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Brief Exercise 8-26
Your answer is incorrect. Try again.
Riverbed Inc. had beginning inventory of $22,200 at cost and $28,300 at retail. Net purchases were $158,800
at cost and $203,000 at retail. Net markups were $10,200, net markdowns were $5,800, and sales were
$193,000.
Calculate the ending inventory at cost using the retail method. (Round intermediate calculation to 2
decimal places, e.g. 15.21% and the final answer to 0 decimal places, e.g. 5,275.)
X
Ending inventory $
SHOW LIST OF ACCOUNTS
LINK TO TEXT
42700
Transcribed Image Text:Brief Exercise 8-26 Your answer is incorrect. Try again. Riverbed Inc. had beginning inventory of $22,200 at cost and $28,300 at retail. Net purchases were $158,800 at cost and $203,000 at retail. Net markups were $10,200, net markdowns were $5,800, and sales were $193,000. Calculate the ending inventory at cost using the retail method. (Round intermediate calculation to 2 decimal places, e.g. 15.21% and the final answer to 0 decimal places, e.g. 5,275.) X Ending inventory $ SHOW LIST OF ACCOUNTS LINK TO TEXT 42700
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