(5 points) Crocus, Inc. uses the FIFO aproach of the Retail Inventory Method to estimate ending...
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(5 points) Crocus, Inc. uses the FIFO aproach of the Retail Inventory Method to estimate ending inventory. Their beginning inventory at cost (retail) was $1,533,000 ($2,391,000), purchases were $11,773,000 ($23,164,000) and freight in was $138,000. They also reported net markups of $2,330,000, net markdowns of $3,204,000, and net sales of $20,803,000. If only $1,226,400 of inventory is left at the end of the period, how much was stolen? (A 21) $3,878,000 $845,868 $2,072,268 $2,651,600 (5 points) Crocus, Inc. uses the FIFO aproach of the Retail Inventory Method to estimate ending inventory. Their beginning inventory at cost (retail) was $1,533,000 ($2,391,000), purchases were $11,773,000 ($23,164,000) and freight in was $138,000. They also reported net markups of $2,330,000, net markdowns of $3,204,000, and net sales of $20,803,000. If only $1,226,400 of inventory is left at the end of the period, how much was stolen? (A 21) $3,878,000 $845,868 $2,072,268 $2,651,600
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FIFO Cost Method Cost Retail Cost to Retail Beginning Inventory 1533000 2391000 Purchases 117730... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas
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