The records of Windsor's Boutique report the following data for the month of April. Sales revenue Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $185,000 4,400 19,700 3,000 20,500 6,100 2,300 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) Compute the ending inventory by the conventional retail inventory method. Ending inventory using conventional retail inventory method $ $89,000 180,000 4,400 6,300 83,846 99,000
The records of Windsor's Boutique report the following data for the month of April. Sales revenue Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $185,000 4,400 19,700 3,000 20,500 6,100 2,300 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) Compute the ending inventory by the conventional retail inventory method. Ending inventory using conventional retail inventory method $ $89,000 180,000 4,400 6,300 83,846 99,000
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
Sales returns
Additional markups
Markup cancellations
Markdowns
Markdown cancellations
Freight on purchases
$185,000
Purchases (at cost)
Purchases (at sales price)
Purchase returns (at cost)
Purchase returns (at sales price)
Beginning inventory (at cost)
6.100 Beginning inventory (at sales price)
4,400
19,700
3,000
20,500
2,300
Compute the ending inventory by the conventional retail inventory method.
Ending inventory using conventional retail inventory method $
$89,000
180,000
4,400
6,300
83.846
99,000
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