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keep getting these wrong San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending Inventory and cost of
keep getting these wrong
San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending Inventory and cost of goods sold. The following data are available for the month of October 2021 Cost $48.000 10,170 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $63,000 32,900 2,500 1,450 45,000 Required: Complete the table below to estimate the average cost of ending inventory and cost of goods sold for October using the Information provided. (Round ratio calculation to 2 decimal places i.e., 01234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) $ Cost 18.000 $ 10.170 Beginning inventory Net purchases Not markups Not markdowns Goods available for sale Cost-to-Retail Retail Ratio 63 000 32.900 2.500 (1.450) 90.950 58.170 59 121 Cost to retail percontage 45 000 Not Sales Estimated ending inventory stret S 61.050 Step by Step Solution
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