Zanesville Pots Co. uses the conventional retail method to estimate ending inventories. The following data has been summarized for the year ended December 31, 2021: Cost Retail $ 88,000 163,000 $132,000 240,000 10,100 9,200 43, 200 213,000 Inventory, January 1 Purchases Net markups Net markdowns Normal spoilage Net sales Required: Estimate the cost of ending inventory applying the conventional retail method. (Round "Cost-to-retail percentage" to 1 decimal place.)
Zanesville Pots Co. uses the conventional retail method to estimate ending inventories. The following data has been summarized for the year ended December 31, 2021: Cost Retail $ 88,000 163,000 $132,000 240,000 10,100 9,200 43, 200 213,000 Inventory, January 1 Purchases Net markups Net markdowns Normal spoilage Net sales Required: Estimate the cost of ending inventory applying the conventional retail method. (Round "Cost-to-retail percentage" to 1 decimal place.)
Chapter10: Inventory
Section: Chapter Questions
Problem 9EA: Calculate the cost of goods sold dollar value for A66 Company for the month, considering the...
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![Zanesville Pots Co. uses the conventional retail method to estimate ending inventories. The following data has been summarized for
the year ended December 31, 2021:
Cost
Retail
$132,000
240,000
10,100
9,200
43, 200
213,000
Inventory, January 1
Purchases
$ 88,000
163,000
Net markups
Net markdowns
Normal spoilage
Net sales
Required:
Estimate the cost of ending inventory applying the conventional retail method. (Round "Cost-to-retail percentage" to 1 decimal place.)
Ending inventory](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F55f0052a-9d0d-41a8-9339-203ce40e3605%2F93f7b376-7a12-405b-a5a6-edb99d935951%2Ft3ucz0b_processed.png&w=3840&q=75)
Transcribed Image Text:Zanesville Pots Co. uses the conventional retail method to estimate ending inventories. The following data has been summarized for
the year ended December 31, 2021:
Cost
Retail
$132,000
240,000
10,100
9,200
43, 200
213,000
Inventory, January 1
Purchases
$ 88,000
163,000
Net markups
Net markdowns
Normal spoilage
Net sales
Required:
Estimate the cost of ending inventory applying the conventional retail method. (Round "Cost-to-retail percentage" to 1 decimal place.)
Ending inventory
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