Question
Here is what I solved before, please modify the figures as per your question. Please let me know if you have further questions. Ifthis helps
Here is what I solved before, please modify the figures as per your question. Please let me know if you have further questions. Ifthis helps then kindly rate 5-stars.
Presented below is information related to Waveland Inc.
Cost | Retail | |
Inventory, 12/31/14 | $268,800 | $397,000 |
Purchases | 1,023,809 | 1,469,000 |
Purchase returns | 63,580 | 81,500 |
Purchase discounts | 19,420 | |
Gross sales revenue | 1,416,900 | |
Sales returns | 97,400 | |
Markups | 124,600 | |
Markup cancellations | 40,400 | |
Markdowns | 55,000 | |
Markdown cancellations | 29,200 | |
Freight-in | 42,420 | |
Employee discounts granted | 8,100 | |
Loss from breakage (normal) | 5,100 |
Assuming that Waveland Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2015.
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