The records of Shamrock's Boutique report the following data for the month of April. Sales revenue $108,600 Purchases (at cost) $49,700 Sales returns 1,900 Purchases (at sales price) 92,100 Markups 9,200 Purchase returns (at cost) 1,900 Markup cancellations 1,300 Purchase returns (at sales price) 2,800 Markdowns 8,300 Beginning inventory (at cost) 35,220 Markdown cancellations 2,600 Beginning inventory (at sales price) 45,000 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $

The records of Shamrock's Boutique report the following data for the month of April. Sales revenue $108,600 Purchases (at cost) $49,700 Sales returns 1,900 Purchases (at sales price) 92,100 Markups 9,200 Purchase returns (at cost) 1,900 Markup cancellations 1,300 Purchase returns (at sales price) 2,800 Markdowns 8,300 Beginning inventory (at cost) 35,220 Markdown cancellations 2,600 Beginning inventory (at sales price) 45,000 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

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