Question
Presented below is information related to Bonita Company. Cost Retail Beginning inventory $252,960 $281,000 Purchases 1,368,000 2,097,000 Markups 93,700 Markup cancellations 15,700 Markdowns 36,900 Markdown
Presented below is information related to Bonita Company.
| Cost | Retail | |||
| Beginning inventory | $252,960 | $281,000 | ||
| Purchases | 1,368,000 | 2,097,000 | ||
| Markups | 93,700 | |||
| Markup cancellations | 15,700 | |||
| Markdowns | 36,900 | |||
| Markdown cancellations | 4,900 | |||
| Sales revenue | 2,243,000 |
Compute the 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 $__________
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Horngrens Cost Accounting A Managerial Emphasis
Authors: Rajan Datar, Srikant M. Datar
16th Edition
9352860195, 978-9352860197
