Question
The company provided the following data: Cost Retail Beginning inventory 550,000 847,000 Purchases 3,377,000 4,730,000 Freight in 77,000 Purchase discount 49,500 Purchase return 27,500 44,000
The company provided the following data:
Cost Retail
Beginning inventory 550,000 847,000
Purchases 3,377,000 4,730,000
Freight in 77,000
Purchase discount 49,500
Purchase return 27,500 44,000
Sales return 88,000
Sales discount 22,000
Net markup 77,000
Net markdown 374,000
Sales 4,400,000
Required: Using the average cost approach, what is the estimated cost of ending inventory?
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Currency Internationalization Global Experiences And Implications For The Renminbi
Authors: Wensheng Peng, Chang Shu
2nd Edition
0230580491, 9780230580497
