The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000 Purchases (at cost) $48,000 Sales returns 2,000 Purchases (at sales price) 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 Markdowns 9,300 Beginning inventory (at cost) 30,000 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,500 Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method. The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000 Purchases (at cost) $48,000 Sales returns 2,000 Purchases (at sales price) 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 Markdowns 9,300 Beginning inventory (at cost) 30,000 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,500 Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method. The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000 Purchases (at cost) $48,000 Sales returns 2,000 Purchases (at sales price) 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 Markdowns 9,300 Beginning inventory (at cost) 30,000 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,500 Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method.
The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000 Purchases (at cost) $48,000 Sales returns 2,000 Purchases (at sales price) 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 Markdowns 9,300 Beginning inventory (at cost) 30,000 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,500 Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method. The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000 Purchases (at cost) $48,000 Sales returns 2,000 Purchases (at sales price) 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 Markdowns 9,300 Beginning inventory (at cost) 30,000 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,500 Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method. The records of Ellen’s Boutique report the following data for the month of April. Sales revenue $99,000 Purchases (at cost) $48,000 Sales returns 2,000 Purchases (at sales price) 88,000 Markups 10,000 Purchase returns (at cost) 2,000 Markup cancellations 1,500 Purchase returns (at sales price) 3,000 Markdowns 9,300 Beginning inventory (at cost) 30,000 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,500 Freight on purchases 2,400 Instructions Compute the ending inventory by the conventional retail inventory method.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
Related questions
Question
The records of Ellen’s Boutique report the following data for the month of April.
Sales revenue |
$99,000
|
Purchases (at cost) |
$48,000
|
|
Sales returns |
2,000
|
Purchases (at sales price) |
88,000
|
|
Markups |
10,000
|
Purchase returns (at cost) |
2,000
|
|
Markup cancellations |
1,500
|
Purchase returns (at sales price) |
3,000
|
|
Markdowns |
9,300
|
Beginning inventory (at cost) |
30,000
|
|
Markdown cancellations |
2,800
|
Beginning inventory (at sales price) |
46,500
|
|
Freight on purchases |
2,400
|
Instructions
Compute the ending inventory by the conventional retail inventory method.
The records of Ellen’s Boutique report the following data for the month of April.
Sales revenue |
$99,000
|
Purchases (at cost) |
$48,000
|
|
Sales returns |
2,000
|
Purchases (at sales price) |
88,000
|
|
Markups |
10,000
|
Purchase returns (at cost) |
2,000
|
|
Markup cancellations |
1,500
|
Purchase returns (at sales price) |
3,000
|
|
Markdowns |
9,300
|
Beginning inventory (at cost) |
30,000
|
|
Markdown cancellations |
2,800
|
Beginning inventory (at sales price) |
46,500
|
|
Freight on purchases |
2,400
|
Instructions
Compute the ending inventory by the conventional retail inventory method.
The records of Ellen’s Boutique report the following data for the month of April.
Sales revenue |
$99,000
|
Purchases (at cost) |
$48,000
|
|
Sales returns |
2,000
|
Purchases (at sales price) |
88,000
|
|
Markups |
10,000
|
Purchase returns (at cost) |
2,000
|
|
Markup cancellations |
1,500
|
Purchase returns (at sales price) |
3,000
|
|
Markdowns |
9,300
|
Beginning inventory (at cost) |
30,000
|
|
Markdown cancellations |
2,800
|
Beginning inventory (at sales price) |
46,500
|
|
Freight on purchases |
2,400
|
Instructions
Compute the ending inventory by the conventional retail inventory method.
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