un.9 Presented below is information related to Sunland Inc.Inventory, 12/31/25PurchasesPurchase returnsPurchase discountsGross sales (before employee discounts)Sales returnsMarkups:Markup cancellationsMarkdownsMarkdown cancellations.Freight-inEmployee discounts grantedLoss from breakage (normal)Cost$173,800750,50045,90013,10040,100Retail$262,0001,319,00064,3001,232,00050,50067,60015,70082,10019,50011,1008,900Assuming that Sunland Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31,2026. (Round ratios for computational purposes to O decimal places, eg 78% and final answer to O decimal places, e.g. 28,987.)Ending inventory using the conventional retail inventory method $

RETAIL INVENTORY METHOD : The retail inventory method is an inventory method that provide business…

Answered: Purchases Purchase returns Purchase…

Purchases Purchase returns Purchase discounts Gross sales (before employee discounts) 750,500 1,319,000 45,900 13,100 64,300 1,232,000

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 41E: Cost of goods sold and related items The following data were extracted from the accounting records...

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Question

un.9

Presented below is information related to Sunland Inc.
Inventory, 12/31/25
Purchases
Purchase returns
Purchase discounts
Gross sales (before employee discounts)
Sales returns
Markups:
Markup cancellations
Markdowns
Markdown cancellations.
Freight-in
Employee discounts granted
Loss from breakage (normal)
Cost
$173,800
750,500
45,900
13,100
40,100
Retail
$262,000
1,319,000
64,300
1,232,000
50,500
67,600
15,700
82,100
19,500
11,100
8,900
Assuming that Sunland Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31,
2026. (Round ratios for computational purposes to O decimal places, eg 78% and final answer to O decimal places, e.g. 28,987.)
Ending inventory using the conventional retail inventory method $

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