ACC/422 Intermediated Accounting II Week 2 Wiley

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Exercise 9-22 The records of Shamrock's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $100,100 1,900 9,500 1,500 9,800 2,800 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $47,400 95,300 1,900 2,900 37,344 48,800 2,200 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