Question
Blossom Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $323,000 $500,000 Purchases 1,260,000 1,740,000
Blossom Co. uses the retail inventory method. The following information is available for the current year.
Cost Retail
Beginning inventory $323,000 $500,000
Purchases 1,260,000 1,740,000
Freight-in 26,000
Employee discounts 7,500
Net markups 64,000
Net markdowns 79,000
Sales revenue 1,480,000
What should the ending inventory be?
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Equity Asset Valuation
Authors: Jerald E. Pinto, Elaine Henry, Thomas R. Robinson, John D. Stowe, Abby Cohen
2nd Edition
470571439, 470571438, 9781118364123 , 978-0470571439
