The following information is available for the past month for a retail store: Sales Markups Markdowns Purchases (at cost) Purchases (at retail) Beginning inventory (at cost) $86,000 $9,000 $9,000 $38,800 $107,000 $30,000 $49,803 Beginning inventory (at retail) What is the ending inventory at cost using the conventional retail method? (Round cost-to-retail ratios to four decimal places.) OA. $165,803 B. $77,000 C. $70,803 D. $29,383
The following information is available for the past month for a retail store: Sales Markups Markdowns Purchases (at cost) Purchases (at retail) Beginning inventory (at cost) $86,000 $9,000 $9,000 $38,800 $107,000 $30,000 $49,803 Beginning inventory (at retail) What is the ending inventory at cost using the conventional retail method? (Round cost-to-retail ratios to four decimal places.) OA. $165,803 B. $77,000 C. $70,803 D. $29,383
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The following information is available for the past month for a retail store:
Sales
Markups
Markdowns
Purchases (at cost)
Purchases (at retail)
Beginning inventory (at cost)
$86,000
$9,000
$9,000
$38,800
$107,000
$30,000
$49,803
Beginning inventory (at retail)
What is the ending inventory at cost using the conventional retail method? (Round cost-to-retail ratios to four
decimal places.)
+
OA. $165,803
OB. $77,000
OC. $70,803
OD. $29,383](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe6a4ebf-a4b8-4f55-9a5e-d4b4137a4ffc%2Fee91b67d-92ec-470a-9624-f87c866cfef3%2F0cajru_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information is available for the past month for a retail store:
Sales
Markups
Markdowns
Purchases (at cost)
Purchases (at retail)
Beginning inventory (at cost)
$86,000
$9,000
$9,000
$38,800
$107,000
$30,000
$49,803
Beginning inventory (at retail)
What is the ending inventory at cost using the conventional retail method? (Round cost-to-retail ratios to four
decimal places.)
+
OA. $165,803
OB. $77,000
OC. $70,803
OD. $29,383
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