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.)
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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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