Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below: Beginning inventory Net purchases Net markups Net markdowns Net sales Cost $ 41,000 151,000 Retail $ 57,000 213,000 30,000 25,000 215,000
Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below: Beginning inventory Net purchases Net markups Net markdowns Net sales Cost $ 41,000 151,000 Retail $ 57,000 213,000 30,000 25,000 215,000
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section20.2: Determining The Cost Of Merchandise Inventory
Problem 1OYO
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Please help me with show all calculation thanku
![Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent
quarter is shown below:
Beginning inventory
Net purchases
Net markups
Net markdowns
Net sales
Cost
$ 41,000
151,000
Retail
$
57,000
213,000
30,000
25,000
215,000
To the nearest thousand, estimated ending inventory using the conventional retail method is (Do not round intermediate
calculations):](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb47f4cec-163d-4221-a0d1-050e31b38e8a%2Fc532d081-8486-4a3e-807f-eb7a2f5fa53b%2Fj8ktkio_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent
quarter is shown below:
Beginning inventory
Net purchases
Net markups
Net markdowns
Net sales
Cost
$ 41,000
151,000
Retail
$
57,000
213,000
30,000
25,000
215,000
To the nearest thousand, estimated ending inventory using the conventional retail method is (Do not round intermediate
calculations):
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