The records of Culver's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $97,100 2,100 10,400 1,500 10,200 2,900 2,500 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) $47,800 86,100 2,100 3,100 24,251 44,800 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The records of Culver's Boutique report the following data for the month of April.
Sales revenue
Sales returns
Markups
Markup cancellations
Markdowns
Markdown cancellations
Freight on purchases
$97.100
2,100
10,400
1,500
10,200
2,900
2,500
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)
$47,800
86,100
Ending inventory using conventional retail inventory method $
2,100
3,100
24,251
44,800
Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.)
Transcribed Image Text:The records of Culver's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $97.100 2,100 10,400 1,500 10,200 2,900 2,500 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) $47,800 86,100 Ending inventory using conventional retail inventory method $ 2,100 3,100 24,251 44,800 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.)
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