Cinderella Shoe Shop had goods available for sale in 2022 with a retail price of $120,000. The
Question:
Cinderella Shoe Shop had goods available for sale in 2022 with a retail price of $120,000. The cost of these goods was $84,000. If sales during the period were $80,000, what is the ending inventory at cost using the retail inventory method?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Cost of goods available for sale at retail price 120000 ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
Question Posted:
Students also viewed these Business questions
-
Cinderella Shoe Shop had goods available for sale in 2017 with a retail price of $120,000. The cost of these goods was $84,000. If sales during the period were $80,000, what is the ending inventory...
-
Milo Shoe Shop had goods available for sale in 2008 with a retail price of $120,000. The cost of these goods was $84,000. If sales during the period were $80,000, what is the ending inventory at cost...
-
____, one-way ANOVA compares the means of three or more independent samples.
-
Explain how this arrangement might have influenced New Zealands long-run Phillips curve.
-
In what ways do informal property rights limit growth?
-
2. Omega Concrete had a gravel pit and factory. Access was difficult, so Omega contracted with Union Pacific Railroad (UP) for the right to use a private road that crossed UP property and tracks. The...
-
Leno Company manufactures toasters. For the first 8 months of 2014, the company reported the following operating results while operating at 75% of plant capacity: Sales (350,000 units) .......
-
The Treasury bill rate is 5% and the market risk premium is 8%. Internal Rate of Project Beta Return, % P 0.95 14 Q 0.00 12 R 2.00 21 S 0.35 13 T 1.60 23 What are the project cos...
-
Assume that you are a new partner at a large audit firm, which is looking to expand its client base. The firm is evaluating your performance based in part on your ability to find new audit clients,...
-
Non-U.S companies that follow IFRS: a . Do not normally use the principles of internal control activities described in this text. b . Often offset cash with accounts payable on the balance sheet. c ....
-
Presented below is the post-closing trial balance for Horner Co. The subsidiary ledgers contain the following information: (1) accounts receivable- B. Hannigan $2,500, I. Kirk $7,500, and T. Hodges...
-
Maximize 10x + 35y subject to Solve Problems 47 using graphical analysis.
-
The functions fand g are defined as follows. f(x)=x-6x-4 and g(x)=- x-4 3x-5 Find f(x+8) and g (4). Write your answers without parentheses and simplify them as much as possible. f(x+8)= *(4)-0 g = H 5
-
Gravel is being dumped from a conveyor belt at a rate of 10 cubic feet per minute. It forms a pile in the shape of a right circular cone whose base diameter and height are always the same. How fast...
-
Deb and Jan were partners in the operation of a breakfast/lunch diner. Recent adverse decisions from the County Health Inspector relating to lapses in achieving proper water heating levels in their...
-
If Ax+By+5z=C is an equation for the plane containing the point (0,0,1) and the line x-1=Y+2, z=72, 3 then A+B+C=
-
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 28,744 85,835 $ 33,600 59,393 $ 33,627 Accounts receivable, net Merchandise inventory...
-
Below is an alphabetical listing of the accounts in the general ledger of Clay and Ogletree, LLP, at the partnership's fiscal year end, September 30, 2014. Adjusting entries for the year have been...
-
Classify each of the following activities as proper or prohibited under the various consumer statutes you have studied. a. Calling a hospital room to talk to a debtor who is a patient there. b....
-
What accounting treatment is normally given to the following items in accounting for plant assets? (a) Additions. (b) Major repairs. (c) Improvements and replacements.
-
New machinery, which replaced a number of employees, was installed and put in operation in the last month of the fiscal year. The employees had been dismissed after payment of an extra months wages,...
-
What are the general rules for how gains or losses on retirement of plant assets should be reported in income?
-
ABC Bank has assets of $120 and a leverage ratio of 3. It earns 5% on its assets but pays 4% on its liabilities. What is ABC Bank's profit per unit of capital invested? X (round to the nearest...
-
Exercise2 (10 points) Background readings: Chapter 2 For the below graph, and using the data information in it, create a data table in order to organize data for processing by computers or for...
-
The market has a standard deviation of 25% whereas the stock XYZ has a standard deviation of 30%. The correlation coefficient between the stock return and the market return is 0.7. The beta of stock...
Study smarter with the SolutionInn App