**The records of Pharoah’s Boutique report the following data for the month of April:**- **Sales revenue:** $107,500- **Sales returns:** $1,900- **Markups:** $10,800- **Markup cancellations:** $1,400- **Markdowns:** $9,900- **Markdown cancellations:** $2,600- **Freight on purchases:** $2,400- **Purchases (at cost):** $50,800- **Purchases (at sales price):** $84,200- **Purchase returns (at cost):** $1,900- **Purchase returns (at sales price):** $2,800- **Beginning inventory (at cost):** $26,304- **Beginning inventory (at sales price):** $43,000**Compute the ending inventory by the conventional retail inventory method.** *(Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)***Ending inventory using conventional retail inventory method** $ [Enter calculation here]

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Description: **The records of Pharoah’s Boutique report the following data for the month of April:**- **Sales revenue:** $107,500- **Sales returns:** $1,900- **Markups:** $10,800- **Markup cancellations:** $1,400- **Markdowns:** $9,900- **Markdown cancellations:

Pharoah's Boutique Estimated ending inventory at cost using the conventional retail inventory…

Business

Accounting

The records of Pharoah's Boutique report the following data for the month of April. Sales revenue $107,500 Purchases (at cost) $50,800 Sales returns 1,900 Purchases (at sales price) 84,200 Markups 10,800 Purchase returns (at cost) 1,900 Markup cancellations 1,400 Purchase returns (at sales price) 2,800 Markdowns 9,900 Beginning inventory (at cost) 26,304 Markdown cancellations 2,600 Beginning inventory (at sales price) 43,000 Freight on purchases 2,400 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method 2$

The records of Pharoah's Boutique report the following data for the month of April. Sales revenue $107,500 Purchases (at cost) $50,800 Sales returns 1,900 Purchases (at sales price) 84,200 Markups 10,800 Purchase returns (at cost) 1,900 Markup cancellations 1,400 Purchase returns (at sales price) 2,800 Markdowns 9,900 Beginning inventory (at cost) 26,304 Markdown cancellations 2,600 Beginning inventory (at sales price) 43,000 Freight on purchases 2,400 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method 2$

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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