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Given: $ $ Cost 100,000 500,000 Beginning inventory Net purchases Net markups Net markdowns Sales Retail $ 150,000 $ 805,000 $ 45,000 $ 135,000 $
Given: $ $ Cost 100,000 500,000 Beginning inventory Net purchases Net markups Net markdowns Sales Retail $ 150,000 $ 805,000 $ 45,000 $ 135,000 $ 680,000 Using the retail method (conventional): What is the cost to retail percentage? What is the cost of the ending inventory? What is the cost of goods sold
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