Presented below is information related to sweet company.

Cost Retail

Beginning Inventory $62,850 $95,900

Purchase (net) 115,340 185,900

Net markups 11,355

Net markdowns 25,970

Sales Revenue 195,710

Compute the ending inventory at retail.

Ending Inventory $_________________________________

Compute a cost to retail percentage under the following conditions.

Cost to retail percentage

(1) Excluding both markups and markdowns ________________________________%

(2)Excluding markups but including markdowns _________________________%

(3) Excluding markdowns but including markups _________________________%

(4)Including both markdowns and markups_______________________________%

Which of the methods in (b) above does the following

1. Provides the most conservation estimate of ending inventory._____________________

2. Provides an approximation of lower-of-cost-or-market._____________________________

3. Is used in the conventional retail method__________________________________

Compute ending inventory at lower-of-cost-or market

Ending inventory $_______________________________

Compute cost of goods sold based on.

Cost of goods sold $_____________________________

Compute gross margin based on

Gross margin $___________________________________