The records of Ayayai Menswear report the following data for the month of September: $117,500 Purchases (at cost) 2,600 Purchases (at sales price) 10,600 Purchase returns (at cost) 1.600 Purchase returns (at sales price) 9,300 Beginning inventory (at cost) 2,800 3,600 Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases (a) Beginning inventory (at sales price) Ending inventory, at retail $ $59,000 112.000 2,600 3,400 32,278 48,000 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, eg. 5,275.)
The records of Ayayai Menswear report the following data for the month of September: $117,500 Purchases (at cost) 2,600 Purchases (at sales price) 10,600 Purchase returns (at cost) 1.600 Purchase returns (at sales price) 9,300 Beginning inventory (at cost) 2,800 3,600 Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases (a) Beginning inventory (at sales price) Ending inventory, at retail $ $59,000 112.000 2,600 3,400 32,278 48,000 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, eg. 5,275.)
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:(a)
Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15,21% and
the final answers to O decimal places, e.g. 5,275.)
Ending inventory, at retail
Ending inventory, at cost
Transcribed Image Text:The records of Ayayai Menswear report the following data for the month of September:
$117,500
Purchases (at cost)
2,600
Purchases (at sales price)
10,600
Purchase returns (at cost)
1.600
Purchase returns (at sales price)
9,300 Beginning inventory (at cost)
2,800
3,600
Sales
Sales returns
Additional markups
Markup cancellations
Markdowns
Markdown cancellations
Freight on purchases
(a)
Beginning inventory (at sales price)
Ending inventory, at retail $
$59,000
112.000
2,600
3,400
32,278
48,000
Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and
the final answers to 0 decimal places, eg. 5,275.)
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