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Ch8 Retail Inventory Method Q2 The records for the Clothing Department of Riverbed's Discount Store are summarized below for the month of Jaruary. Inventory, January
Ch8 Retail Inventory Method Q2 The records for the Clothing Department of Riverbed's Discount Store are summarized below for the month of Jaruary. Inventory, January 1: at retail $24,700; at cost $17,000 Purchases in January: at retail $134,900; at cost $89,932 Freight-in: $6,900 Purchase returns: at retail $3,000; at cost $2,300 Transfers in from suburban branch: at retail $12,900; at cost $9,100 Net markups: $7,900 Net markdowns: $4,000 Inventory losses due to normal breakage, etc: at retail $500 Sales revenue at retail: $94,600 Sales returns: $2.400 (a) Compute the inventory for this department as of January 31 , at retail prices. Ending inventory at retail $
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