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Presented below is information related to Marigold Company. Cost Retail Beginning inventory $ 56,190 $ 97,100 Purchases (net) 133,480 198,500 Net markups 10,589 Net markdowns
Presented below is information related to Marigold Company.
| Cost | Retail | |||
| Beginning inventory | $ 56,190 | $ 97,100 | ||
| Purchases (net) | 133,480 | 198,500 | ||
| Net markups | 10,589 | |||
| Net markdowns | 24,302 | |||
| Sales revenue | 195,610 |
Compute ending inventory at lower-of-cost-or-market.
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Essentials Of Forensic Accounting
Authors: Michael A Crain, William S Hopwood,
1st Edition
1941651100, 978-1941651100
