2.

Company ABC uses the retail inventory method. The following information is for this year.

 Cost Retail BI 1190.0 1886.000 Net purchases 4057.9 6544.420 Net Sales 0.0 5824.534 

a: Ending Inventory at retail is:

b: The cost to retail conversion for the year is:

c: Ending inventory at cost is:

d: Cost of goods sold is:

4.

A fire destroyed all ABC's merchandise inventory on October 1.

On January 1 the balance in inventory was: 2204.

From January 1-October 1

sales were 13224

purchases were 11108.16

the mark up on cost was 34%

a. The gross profit margin is (as %, e.g. 34.23% would entered as 34.23):

b. Estimated COGS of inventory destroyed is:

c. Estimated inventory destroyed: