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Presented below is information related to Whispering Company Cost Retail Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue 63,190 $103,900 182,500 11,288 26,066
Presented below is information related to Whispering Company Cost Retail Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue 63,190 $103,900 182,500 11,288 26,066 170,960 117,310 Compute the ending inventory at retail. Encing inventory Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, eg. 78.74%) Cost-to-retail percentage (1) Excluding both markups and markdowns. (2) Excluding markups but including markdowns. (3) Excluding markdowns but ind uding markups (4) Including both markdowns and markups. 9% Which of the methoeds in (b) above does the following? (1) Provides the most conservative estimate of ending Inventory (2) Provides an approximation of lower-of-cost-or-marke (3) Is used in the conventional retail method. compute ending inventory at lower-of-cost-or-market, (Round ratio to 2 decimal places, eg, 78.74% and final answer to 0 decimal places, e.g. 6,225.) Ending inventorys Compute cost of goods sold based on (d). (Round answer to O decimal places, e-g. 6,225.) Cost of goods sokd
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