The records of Ellen's Boutique report the following data for the month of April. Sales revenue Purchases (at cost) $ 96,100 $ 73,700 Sales returns $ 4,100 Purchases (at sales price) $ 95,200 Markups $ 11,300 Purchase returns (at cost) $ 4,100 Markup cancellations $1,100 Purchase returns (at sales price) $ 5,300 Markdowns $ 9,500 Beginning inventory (at cost) $ 24,993 Markdown cancellations $ 4,900 Beginning inventory (at sales price) $ 47,800 $ 4,500 Freight on purchases Compute the ending inventory by the conventional retail inventory method.
The records of Ellen's Boutique report the following data for the month of April. Sales revenue Purchases (at cost) $ 96,100 $ 73,700 Sales returns $ 4,100 Purchases (at sales price) $ 95,200 Markups $ 11,300 Purchase returns (at cost) $ 4,100 Markup cancellations $1,100 Purchase returns (at sales price) $ 5,300 Markdowns $ 9,500 Beginning inventory (at cost) $ 24,993 Markdown cancellations $ 4,900 Beginning inventory (at sales price) $ 47,800 $ 4,500 Freight on purchases Compute the ending inventory by the conventional retail inventory method.
Chapter7: Budgeting
Section: Chapter Questions
Problem 9PB: Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May,...
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Question
Q. Financial Account
![The records of Ellen's Boutique report the following data for the month
of April.
Sales revenue
Purchases (at cost)
$ 96,100
$ 73,700
Sales returns
$ 4,100
Purchases (at sales price)
$ 95,200
Markups
$ 11,300
Purchase returns (at cost)
$ 4,100
Markup cancellations
$1,100
Purchase returns (at sales price)
$ 5,300
Markdowns
$ 9,500
Beginning inventory (at cost)
$ 24,993
Markdown cancellations
$ 4,900
Beginning inventory (at sales price)
$ 47,800
$ 4,500
Freight on purchases
Compute the ending inventory by the conventional retail inventory
method.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f81b083-41f5-4a2d-b070-32cb8e93c3a6%2F43e277db-f68d-423e-bf9f-fd834b6f1a42%2F2du4xf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The records of Ellen's Boutique report the following data for the month
of April.
Sales revenue
Purchases (at cost)
$ 96,100
$ 73,700
Sales returns
$ 4,100
Purchases (at sales price)
$ 95,200
Markups
$ 11,300
Purchase returns (at cost)
$ 4,100
Markup cancellations
$1,100
Purchase returns (at sales price)
$ 5,300
Markdowns
$ 9,500
Beginning inventory (at cost)
$ 24,993
Markdown cancellations
$ 4,900
Beginning inventory (at sales price)
$ 47,800
$ 4,500
Freight on purchases
Compute the ending inventory by the conventional retail inventory
method.
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