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hello, i have very easy problems in acct 381 and i need help as fast as can, i will do $22 thats only what i
hello, i have very easy problems in acct 381 and i need help as fast as can, i will do $22 thats only what i have, please accept it and give the right answer now!
SEE ATTACHMENT Exercise 9-20 The records of Ellen's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $99,000 2,000 10,000 1,500 9,300 2,800 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $48,000 88,000 2,000 3,000 30,000 46,500 2,400 Compute the ending 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 Exercise 9-23 Leonard Bernstein Company began operations late in 2013 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2013 and no markdowns during 2013, the ending inventory for 2013 was $14,000 under both the conventional retail method and the LIFO retail method. At the end of 2014, management wants to compare the results of applying the conventional and LIFO retail methods. There was no change in the price level during 2014. The following data are available for computations. Inventory, January 1, 2014 Sales revenue Cost Retail $14,000 $20,000 80,000 Net markups Net markdowns Purchases Freight-in Estimated theft 9,000 58,800 7,500 1,600 81,000 2,000 Compute the cost of the 2014 ending inventory under both : (a) The conventional retail 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 the conventional retail method (b) The LIFO retail method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987.) $ Ending inventory at cost $ Ending inventory at retail Problem 9-7 Presented below is information related to Waveland Inc. Cost Inventory, 12/31/14 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) $250,000 914,500 60,000 18,000 42,000 Retail $390,000 1,460,000 80,000 1,410,000 97,500 120,000 40,000 45,000 20,000 8,000 4,500 Assuming that Waveland Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2015. (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 the conventional retail inventory method Exercise 9-20 Your answer is incorrect. Try again. The records of Ellen's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $99,000 2,000 10,000 1,500 9,300 2,800 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $48,000 88,000 2,000 3,000 30,000 46,500 2,400 Compute the ending 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 $ 36,500 Click if you would like to Show Work for this question: Open Show Work Exercise 9-23 Your answer is partially correct. Try again. Leonard Bernstein Company began operations late in 2013 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2013 and no markdowns during 2013, the ending inventory for 2013 was $14,000 under both the conventional retail method and the LIFO retail method. At the end of 2014, management wants to compare the results of applying the conventional and LIFO retail methods. There was no change in the price level during 2014. The following data are available for computations. Inventory, January 1, 2014 Sales revenue Cost Retail $14,000 $20,000 80,000 Net markups Net markdowns Purchases Freight-in Estimated theft 9,000 58,800 7,500 1,600 81,000 2,000 Compute the cost of the 2014 ending inventory under both : (a) The conventional retail 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 the conventional retail method 19272 (b) The LIFO retail method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987.) $ WRONG Ending inventory at cost 26400 $ Ending inventory at retail 26400
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