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Exercise 9-21 Presented below is information related to Riverbed Company. Cost Retail Beginning inventory $318,504 $279,000 Purchases 1,363,000 2,117,000 Markups 93,200 Markup cancellations 16,400 Markdowns
Exercise 9-21
Presented below is information related to Riverbed Company.
Cost | Retail | |||
Beginning inventory | $318,504 | $279,000 | ||
Purchases | 1,363,000 | 2,117,000 | ||
Markups | 93,200 | |||
Markup cancellations | 16,400 | |||
Markdowns | 38,300 | |||
Markdown cancellations | 5,500 | |||
Sales revenue | 2,158,000 |
Compute the inventory by the conventional retail inventory method.
Ending inventory using conventional retail inventory method $
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