please answer do not image format Robotics Corporation uses a periodic inventory system and the retail inventory method. Accountingrecords provided the following information for the 2024 fiscal year:Beginning inventoryNet purchasesFreight-inNet markupsNet markdownsNormal spoilageSalesBeginning inventoryPlus: PurchasesFreight-inCost$ 255,000656,00028,400Net markupsGoods available for saleLess Net markdownsThe company records sales to employees net of discounts. These discounts totaled $22,000 for the year.Estimate ending inventory and cost of goods sold using the conventional method.Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)Retail$ 470,0001,215,000< Prev23,00011,0008,0001,370,000Cost$ 255,000 $656.00028,40015 of 17Retail470,0001,215,00023.0001,708,000(11,000)NextCost-to-RetailRatio

Name: please answer do not image format Robotics Corporation uses a periodic
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: please answer do not image format Robotics Corporation uses a periodic inventory system and the retail inventory method. Accountingrecords provided the following information for the 2024 fiscal year:Beginning inventoryNet purchasesFreight-inNet marku