Presented below is information related to Flint Company Cost $ 63,170 124,370 Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue Retail $102,900 181,500 10,524 27,048 192,550 Your answer is correct. Compute the ending inventory at retail, Ending inventory 75326 e Textbook and Media er 9 Question 8 of 9 0.36/1 E Compute a cost-to-retail percentage under the following conditions. (Round ratlos to 2 decimal places, eg. 78.74%) Cost-to-retail percentage 65.94 % (1) (2) % Excluding both markups and markdowns. Excluding markups but including markdowns. Excluding markdowns but including markups. 63.58 (3) 7287 % (4) Including both markdowns and markups. 70.01 % e Textbook and Media Your answer is partially correct. Which of the methods in (b) above does the following? (1) Provides the most conservative estimate of ending inventory Excluding Both Markups and Markdowns, (2) Provides an approximation of lower-of-cost-or-market. Excluding Markdowns but including Markups (3) Is used in the conventional retail method, Excluding Markdowns but including Markups MacBook Air Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, eg. 78.74% and final answer to O decimal places, e.g. 6,225.) Ending inventory $ 52736 e Textbook and Media X Your answer is incorrect Compute cost of goods sold based on (d). (Round answer to O decimal places, es. 6,225.) Cost of goods sold 134804 e Textbook and Media X Your answer is incorrect. MacBook Air Compute cost of goods sold based on (d). (Round answer to O decimal places, eg. 6,225.) Cost of goods sold 134804 e Textbook and Media x Your answer is incorrect. Compute gross margin based on (d), (Round answer to decimal places, es 6,225.) Gross margin $ 57746 e Textbook and Media Attempts: 1 of 3 used Submit Answer Save for Later