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The records of Marigold's Boutique report the following data for the month of April. $89,500 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Sales revenue $49,400 95,900 1,900 2,900 Sales returns 1,900 Markups 10,500 Markup cancellations 1,600 Markdowns 8,700 28,799 Markdown cancellations 2,700 Beginning inventory (at sales price) 46,400 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to o decimal places, e.g. 786 and final answer to o decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method

The records of Marigold's Boutique report the following data for the month of April. $89,500 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Sales revenue $49,400 95,900 1,900 2,900 Sales returns 1,900 Markups 10,500 Markup cancellations 1,600 Markdowns 8,700 28,799 Markdown cancellations 2,700 Beginning inventory (at sales price) 46,400 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to o decimal places, e.g. 786 and final answer to o decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method

Accounting
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter7: Inventories
Section: Chapter Questions
Problem 7.4CP: Communication Golden Eagle Company began operations on April 1 by selling a single product. Data on...
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Exercise 9-22 The records of Marigold's Boutique report the following data for the month of April. Sales revenue $89,500 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) $49,400 Sales returns 1,900 95,900 Markups Markup cancellations 10,500 1,900 1,600 Purchase returns (at sales price) 2,900 Markdowns Beginning inventory (at cost) Beginning inventory (at sales price) 8,700 28,799 Markdown cancellations 2,700 46,400 Freight on purchases 2,300 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 Click if you would like to Show Work for this question: Open Show Work
Transcribed Image Text:Exercise 9-22 The records of Marigold's Boutique report the following data for the month of April. Sales revenue $89,500 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) $49,400 Sales returns 1,900 95,900 Markups Markup cancellations 10,500 1,900 1,600 Purchase returns (at sales price) 2,900 Markdowns Beginning inventory (at cost) Beginning inventory (at sales price) 8,700 28,799 Markdown cancellations 2,700 46,400 Freight on purchases 2,300 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 Click if you would like to Show Work for this question: Open Show Work
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