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Exercise 8-26 The records of Marigold Menswear report the following data for the month of September: Sales Sales returns Additional markups Markup cancellations Markdowns Markdown
Exercise 8-26 The records of Marigold Menswear report the following data for the month of September: Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $118,300 Purchases (at cost) 2,600 Purchases (at sales price) 10,900 Purchase returns (at cost) 2,500 Purchase returns (at sales price) 9,900 Beginning inventory (at cost) 3,100 Beginning inventory (at sales price) 4,200 $67,600 121,000 3,400 3,600 41,400 49,800 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, e.g. 5,275.) Ending inventory, at retail $ Ending inventory, at cost $ LINK TO TEXT Assuming that a physical count of the inventory determined that the actual ending inventory at retail prices at the end of September was $40,500, estimate the loss due to shrinkage and theft. (Round intermediate calculations to 2 decimal places, e.g. 15.21% and the final answer to o decimal places, e.g. 5,275.) Estimated loss due to shrinkage and theft $
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