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View History Bookmarks People Tab Window Help 30% D Proctoring Enable x New Tab X + Etorio.com/secured#ockdown abled: Chapter 09 GRADED Brief Exercis... Saved H Brief Exercise 9-10 (Algo) Conventional retail method [L09.4) Roberson Corporation uses a periodic Inventory system and the retail inventory method. Accounting records provided the following Information for the 2021 fiscal year. Beginning inventory Net purchases Freight-in Net markups Net markdown Normal spoilage Sales Cont Retail $285,000 $530,000 686,000 1,245,000 21,200 29,000 10.000 7.000 1,430,000 The company records sales to employees net of discounts. These discounts totaled $28,000 for the year. Estimate ending Inventory and cost of goods sold using the conventional method. (Round ratio calculation to 2 decimal places (ie.. 0.1234 should be entered as 12.34%.)) Cost co-Retail Ratio $ Cont 285,000 $ 685.000 21.200 Retail 530.000 1.245.000 Beginning inventory Plus: Purchases Freight-in Net markups Goods available for sale Le Netmarkdowns Goods available for sale 29.000 1.804.000 (10,000) 1.794.000 992 200 21 The company records sales to employees net of discounts. These discounts totaled $28,000 for the year. Estimate ending inventory and cost of goods sold using the conventional method. (Round ratio calculation to 2 decimal places (ie, 0.1234 should be entered as 12.34%.)) Cost Cost-to-Retail Ratio $ Retail 530,000 1.245.000 285,000 $ 686.000 21.200 014521 rences Beginning inventory Plus: Purchases Freight-in Net markups Goods available for sale Less: Net markdowns Goods available for sale 29,000 1,804,000 (10,000) 1,794,000 992,200 Cost-to-rotal percentage (7.000) Loos: Normal Spoilage Less: Net sales Sales Employee discounts Estimated ending inventory at retall Estimated ending inventory at cost Estimated cost of goods sold (1,430,000) 128,000) 329.000 $