Question
Presented below is information related to Bridgeport Company. Cost Retail Beginning inventory $290,370 $282,000 Purchases 1,356,000 2,135,000 Markups 93,700 Markup cancellations 16,200 Markdowns 33,800 Markdown
Presented below is information related to Bridgeport Company.
| Cost | Retail | |||
|---|---|---|---|---|
| Beginning inventory | $290,370 | $282,000 | ||
| Purchases | 1,356,000 | 2,135,000 | ||
| Markups | 93,700 | |||
| Markup cancellations | 16,200 | |||
| Markdowns | 33,800 | |||
| Markdown cancellations | 4,800 | |||
| Sales revenue | 2,231,000 |
Compute the inventory by the conventional retail inventory method.
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Harold Cecil Edey A Collection Of Unpublished Material From A 20th Century Accounting Reformer
Authors: Martin E. Persson
1st Edition
1789736706, 9781789736700
