The records of Windsor's Boutique report the following data for the month of April. Sales revenue Purchases (at cost) Sales returns Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $101,000 1,800 11,000 1,500 9,900 2,600 2,200 $45,800 91,400 1,800 2,700 31,280 50,800 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.)
The records of Windsor's Boutique report the following data for the month of April. Sales revenue Purchases (at cost) Sales returns Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $101,000 1,800 11,000 1,500 9,900 2,600 2,200 $45,800 91,400 1,800 2,700 31,280 50,800 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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The records of Windsor's Boutique report the following data for the month of April.
Sales revenue
Purchases (at cost)
Sales returns
Purchases (at sales price)
Purchase returns (at cost)
Purchase returns (at sales price)
$101,000
1,800
11,000
1,500
Markdowns
9,900
Markdown cancellations 2,600
Freight on purchases
2,200
Markups
Markup cancellations
Beginning inventory (at cost)
Beginning inventory (at sales price)
$45,800
91,400
1,800
2,700
31,280
50,800
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
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