Question
Airborne Company used the average cost retail inventory method. Cost Retail Beginning inventory 1,650,000 2,200,000 Net purchases 3,725,000 4,950,000 Department transfer credit 200,000 300,000 Net
Airborne Company used the average cost retail inventory method.
Cost Retail
Beginning inventory 1,650,000 2,200,000
Net purchases 3,725,000 4,950,000
Department transfer credit 200,000 300,000
Net markup 150,000
Inventory shortage sales price 100,000
Sales, including gales of P400,000 of items which 4,000,000
were marked down from P500,000
What is the estimated cost of ending inventory?
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Sound Investing, Chapter 1 - The Financial Pressure
Authors: Kate Mooney
2nd Edition
0071719237, 9780071719230
