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The records of Sheffield's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $95,000 1,900 9,700 1,300 10,200 2,700 2,400 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) Ending inventory using conventional retail inventory method $45,500 $ 87,900 1,900 2,900 34,889 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.) 43,700

The records of Sheffield's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $95,000 1,900 9,700 1,300 10,200 2,700 2,400 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) Ending inventory using conventional retail inventory method $45,500 $ 87,900 1,900 2,900 34,889 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.) 43,700

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The records of Sheffield's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $95,000 1,900 9,700 1,300 10,200 2,700 2,400 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) Ending inventory using conventional retail inventory method $45,500 87,900 1,900 $ 2,900 34,889 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.) 43,700
Transcribed Image Text:The records of Sheffield's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $95,000 1,900 9,700 1,300 10,200 2,700 2,400 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) Ending inventory using conventional retail inventory method $45,500 87,900 1,900 $ 2,900 34,889 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.) 43,700
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