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The Broadway location of Joan's Fashion Apparel reported the following information for June 2020: Cost Retail Inventory 6/1/30 23,800 35,000 Purchases in June 155,500 245,700
The Broadway location of Joan's Fashion Apparel reported the following information for June 2020: | |||||
Cost | Retail | ||||
Inventory 6/1/30 | 23,800 | 35,000 | |||
Purchases in June | 155,500 | 245,700 | |||
Purchase returns | 4,770 | 6,700 | |||
Transfers in from Flushing | 12,880 | 18,200 | |||
Freight in | 9,800 | ||||
Markdowns | 16,800 | ||||
Markdown cancellations | 5,600 | ||||
Markups | 15,000 | ||||
Markup cancellations | 8,400 | ||||
Sales revenue | 253,000 | ||||
Sales returns | 13,600 | ||||
Employee discounts | 9,260 | ||||
Losses due to breakage | 1,040 | ||||
Joan's reports inventory using the conventional retail method. What ending inventory will Joan report on the 6/30/20 financial reports? |
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