Question
Current Attempt in Progress Presented below is information related to Pina Company. Cost Retail Beginning inventory $307,645 $285,000 Purchases 1,397,000 2,106,000 Markups 95,200 Markup cancellations
Current Attempt in Progress
Presented below is information related to Pina Company.
| Cost | Retail | |||
|---|---|---|---|---|
| Beginning inventory | $307,645 | $285,000 | ||
| Purchases | 1,397,000 | 2,106,000 | ||
| Markups | 95,200 | |||
| Markup cancellations | 15,700 | |||
| Markdowns | 33,500 | |||
| Markdown cancellations | 4,800 | |||
| Sales revenue | 2,240,000 |
Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
| Ending inventory using conventional retail inventory method=$ |
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
12th edition
1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411
