Please do not give solution in image format thanku The records of Marin's Boutique report the following data for the month of April.Sales revenue$195,000Purchases (at cost)$98,000Sales returnsAdditionalmarkupsMarkupcancellationsMarkdownsMarkdowncancellationsFreight onpurchases4,40020,7003,30020,5006,1002,600Purchases (at salesprice)Purchase returns (atcost)Purchase returns (atsales price)Beginning inventory(at cost)Beginning inventory(at sales price)164,0004,4006,60039,86892,000Compute the ending inventory by the conventional retail inventory method.Ending inventory using conventional retail inventory method?

Name: Please do not give solution in image format thanku The records of Mari
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Description: Please do not give solution in image format thanku The records of Marin's Boutique report the following data for the month of April.Sales revenue$195,000Purchases (at cost)$98,000Sales returnsAdditionalmarkupsMarkupcancellationsMarkdownsMarkdowncance

The conventional retail inventory method is used majorly by small businesses who have a variety of…

Business

Accounting

Sales revenue Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $195,000 4,400 20,700 3,300 20,500 6,100 2,600 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $98,000 164,000 4,400 6,600 39,868 92,000 Compute the ending inventory by the conventional retail inventory method.

Sales revenue Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $195,000 4,400 20,700 3,300 20,500 6,100 2,600 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $98,000 164,000 4,400 6,600 39,868 92,000 Compute the ending inventory by the conventional retail inventory method.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 6EA: Akira Company had the following transactions for the month. Calculate the gross margin for the...

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