The records of Skysong’s Boutique report the following data for
the month of April.
Sales revenue |
$89,500 |
Purchases (at cost) |
$49,400 | |||
---|---|---|---|---|---|---|
Sales returns |
1,900 |
Purchases (at sales price) |
95,900 | |||
Markups |
10,500 |
Purchase returns (at cost) |
1,900 | |||
Markup cancellations |
1,600 |
Purchase returns (at sales price) |
2,900 | |||
Markdowns |
8,700 |
Beginning inventory (at cost) |
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 0
decimal places, e.g. 78% and final answer to 0 decimal places, e.g.
28,987.)
Ending inventory using conventional retail inventory method |
$enter the dollar amount of the ending inventory by the conventional retail inventory method rounded to 0 decimal places |
Get Answers For Free
Most questions answered within 1 hours.