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Please complete in excel #2 1 pt. The Shiawassee Corp. uses the conventional retail inventory method to estimate ending inventory for its monthly financial statements
Please complete in excel
#2 1 pt. The Shiawassee Corp. uses the conventional retail inventory method to estimate ending inventory for its monthly financial statements and presents the following data for one department for March 1, 2021. Present a schedule that shows the ending inventory at cost and highlight that cell with color and a thick outside border. Label each column and row clearly so your workpaper can be used by other people in Shiawassee's accounting department. Reference all cells and use formulas where appropriate. Present the cost to retail percentage as a percentage with two decimal places (e.g., 37.64%). Add rows or columns to the shaded area below as you need them. $ 67,000 93,500 259,600 519,700 6,700 Inventory, March 1, 2021 At cost At retail Purchases (exclusive of freight and returns): At cost At retail Freight-in Purchase returns: At cost At retail Markups Markup cancellations Markdowns (net) Sales revenue 6,349 10,588 3,500 750 3,400 310,000 Account Names Cost RetailStep by Step Solution
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