The records of Larkspur's Boutique report the following data for the month of April. Sales revenue $91,200 Purchases (at cost) $45,400 Sales returns 1,900 Purchases (at sales price) 92,100 Purchase returns (at cost) Markups Markup cancellations Markdowns Markdown cancellations 10,000 1,300 9,200 2,600 Purchase returns (at sales price) 2,300 Beginning inventory (at cost) Beginning inventory (at sales price) 1,900 3,000 36,560 44,200 Freight on purchases Compute the ending inventory by the conventional retail inventory method Ending inventory using conventional retail inventory method $
The records of Larkspur's Boutique report the following data for the month of April. Sales revenue $91,200 Purchases (at cost) $45,400 Sales returns 1,900 Purchases (at sales price) 92,100 Purchase returns (at cost) Markups Markup cancellations Markdowns Markdown cancellations 10,000 1,300 9,200 2,600 Purchase returns (at sales price) 2,300 Beginning inventory (at cost) Beginning inventory (at sales price) 1,900 3,000 36,560 44,200 Freight on purchases Compute the ending inventory by the conventional retail inventory method Ending inventory using conventional retail inventory method $
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:The records of Larkspur's Boutique report the following data for the month of April.
Sales revenue
$91,200
Purchases (at cost)
$45,400
Sales returns
Purchases (at sales price)
92,100
Purchase returns (at
cost)
Markups
Markup
cancellations
Markdowns
Markdown
cancellations
1,900
10,000
1,300
9,200
2,600
Purchase returns (at
sales price)
2,300
Beginning inventory (at
cost)
Beginning inventory (at
sales price)
1,900
3,000
36,560
44,200
Freight on
purchases
Compute the ending inventory by the conventional retail inventory method
Ending inventory using conventional retail inventory method $
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