The following figures are from a juniors' sportswear department in a California store for May: Markdowns Purchases (retail) Returns to vendors Transfers in from Oregon store (retail) Transfers out to Arizona store (retail) Net sales Opening book inventory (retail) a. Determine the closing book inventory for May at retail. $42,000 $180,000 $3,500 $8,000 $4,000 $125,000 $315,000
The following figures are from a juniors' sportswear department in a California store for May: Markdowns Purchases (retail) Returns to vendors Transfers in from Oregon store (retail) Transfers out to Arizona store (retail) Net sales Opening book inventory (retail) a. Determine the closing book inventory for May at retail. $42,000 $180,000 $3,500 $8,000 $4,000 $125,000 $315,000
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:The following figures are from a juniors' sportswear department in a
California store for May:
Markdowns
Purchases (retail)
Returns to vendors
Transfers in from Oregon store (retail)
Transfers out to Arizona store (retail)
Net sales
Opening book inventory (retail)
a. Determine the closing book inventory for May at retail.
$42,000
$180,000
$3,500
$8,000
$4,000
$125,000
$315,000
b. If planned June book beginning inventory is supposed to be
$319,200, what does the buyer need to do?
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