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Presented below is information related to Henderson Company. Cost Retail Beginning inventory $ 200,000 $ 280,000 Purchase 1,375,000 $ 2,140,000 Markups $ 95,000 Markups cancellations
Presented below is information related to Henderson Company.
| Cost | Retail | |
| Beginning inventory | $ 200,000 | $ 280,000 |
| Purchase | 1,375,000 | $ 2,140,000 |
| Markups | $ 95,000 | |
| Markups cancellations | $ 15,000 | |
| Markdowns | $ 35,000 | |
| Markdowns cancellations | $ 5000 | |
| Sales revenue | $ 2,200,000 |
Compute the inventory by the conventional retail inventory method.
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
