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A. B. C. Please answer the questions As of January 1.2025, Bonita Inc. adopted the retail method of accounting for its merchandise inventory. To prepare
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As of January 1.2025, Bonita Inc. adopted the retail method of accounting for its merchandise inventory. To prepare the store's financial statements at June 30,2025 , you obtain the following data, Prepare a schedule to compute Eonita's June 30,2025 , inventory at cost under the conventional retail method of accounting for irwentories Inventory at cost under the cotwentianal retail method eTextbook and Media Attempts: 1 of 3 used (b) Without prejudice to your solution to part (a) aswume that you computed the June 30,2025 , icventory to be 554 . 000 at cetall and the ratio of cost to retail to be 79%. The general price ievel has increased frem 100 at Jarmary 1, 2025, to 109 at June 30,2025 Compute the June 30,2025 , inventory at the June 30 price ievel under the dollarvalue Lif 0 retail method, (HFound raties for computational purposet to O decimal pleces, es. 78\% and final an wer to 0 decimat places, ey. 2E,9h7. Ending imentory at dollarvalie LFO cost Presented below is information related to Blossom Company. Compute the ending inventory for Biossom Company for 2022 through 2027 using the dollar-value LIFO method: Compute the ending inventory for Blossom Company for 2022 through 2027 using the dollar-value LIFO method At December 31,2024 , Laura Hall Corporationreported current assets of $336,336 and current fiabilities of $201,400. The following items may have been recorded incorrectly, Hall uses a perpetual inventory system. 1. Goods purchased costing $23.220 were shipped fob. shipping point by a supplier on December 28 . Hall received and recorded the invoice on December 29.2024 , but the goods were not included in Hall's inventory because they were not received until January 4,2025 2. Goods purchased costing $16,480 were shipped to b. destination by a supplier on December 26 . Hall received and recorded the imvoice on December 31, but the goods were not included in Hali's 2024 inentory because they were not received until January 2,2025 . 3. Goods held on consignment from Claudia Kishi Company were included in Halls December 31,2024 , inveatory at $13,980. (a) Compute the current ratio based on Halrs balance sheet (Round rotio to 2 decimal places, e.3. 2.31.1.) The current ratio 1 Step by Step Solution
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