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Please Help!! Problem 9-9 Presented below is information related to Bridgeport Inc. Cost Retail Inventory, 12/31/17 $251,100 $390,400 Purchases 906,368 1,447,600 Purchase returns 79,400 60,000
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Problem 9-9 Presented below is information related to Bridgeport Inc. Cost Retail Inventory, 12/31/17 $251,100 $390,400 Purchases 906,368 1,447,600 Purchase returns 79,400 60,000 18,100 Purchase discounts Gross sales revenue 1,426,100 Sales returns 97,300 119,700 Markups Markup cancellations 39,500 Markdowns 45,800 Markdown cancellations 20,000 Freight-in Employee discounts granted 42,300 8,200 Loss from breakage (normal) 4,100 Assuming that Bridgeport Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2018. (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 methodStep by Step Solution
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