SP9: Supplemental Retail Inventory Method problemABC periodic inventory system and the retail inventory method to estimate ending inventory and cost of goodssold at Year End. Use the following information to answer the questions below:CostRetailBeginning inventoryPurchasesPurchase returnsTransfer inNet markupsNet markdowns76SatesSales ReturnsSales Discount992003100001000052801600004800002000010000100008000440,00060005000Estimate Ending Inventory and COGS using the Conventional Retail MethodEstimate Ending Inventory and COGS using the LIFO Retail MethodEstimate Ending Inventory and COGS using the DV LIFO Retail Method - Assume that retail prices increased 10%(from 1.00 to 1.1) from base year (previous year end) to current year end

Name: SP9: Supplemental Retail Inventory Method problemABC periodic invento
Uploaded: 2024-03-20T06:32:37.000Z
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Description: SP9: Supplemental Retail Inventory Method problemABC periodic inventory system and the retail inventory method to estimate ending inventory and cost of goodssold at Year End. Use the following information to answer the questions below:CostRetailBegi

costretail valuebeginning inventory99200160000add:net purchases300000460000add:transfer…

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SP9: Supplemental Retail Inventory Method problem ABC periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold at Year End. Use the following information to answer the questions below: Cost Retail Beginning inventory Purchases Purchase returns Transfer in Net markups Net markdowns Sates Sales Returns Sales Discount 76 99200 310000 10000 5280 160000 480000 20000 10000 10000 8000 Estimate Ending Inventory and COGS using the LIFO Retail Method 440,000 6000 5000 Estimate Ending Inventory and COGS using the Conventional Retail Method Estimate Ending Inventory and COGS using the DV LIFO Retall Method - Assume that retail prices increased 10% (from 1.00 to 1.1) from base year (previous year end) to current year end