Question
The following data concerning the conventional retail inventory method are taken from the financial records of Oriole Company. Cost Retail Beginning inventory $ 206000 $
The following data concerning the conventional retail inventory method are taken from the financial records of Oriole Company.
Cost Retail
Beginning inventory $ 206000 $ 286000
Purchases 907000 1270000
Freight-in 24600
Net markups 78900
Net markdowns 55600
Sales 1424000
The ending inventory at retail should be
$179900.
$235500.
$210900.
$155300.
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
