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The records of Buffalo's Boutique report the following data for the month of April. $107,400 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) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases 1,900 10,300 1,400 8,600 2,700 2,300 $44,200 83,000 1,900 3,000 22,312 42,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $

The records of Buffalo's Boutique report the following data for the month of April. $107,400 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) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases 1,900 10,300 1,400 8,600 2,700 2,300 $44,200 83,000 1,900 3,000 22,312 42,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The records of Buffalo's Boutique report the following data for the month of April. $107,400 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) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases. 1,900 10,300 1,400 8,600 2,700 2,300 $44,200 83,000 1,900 3,000 22,312 42,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $
Transcribed Image Text:The records of Buffalo's Boutique report the following data for the month of April. $107,400 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) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases. 1,900 10,300 1,400 8,600 2,700 2,300 $44,200 83,000 1,900 3,000 22,312 42,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $
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