Question
The following data concerning the retail inventory method are taken from the financial records of Blossom Company. Cost Retail Beginning inventory $ 183000 $ 284000
The following data concerning the retail inventory method are taken from the financial records of Blossom Company.
| Cost | Retail | |||
| Beginning inventory | $ 183000 | $ 284000 | ||
| Purchases | 890000 | 1230000 | ||
| Freight-in | 23600 | |||
| Net markups | 79400 | |||
| Net markdowns | 54800 | |||
| Sales | 1304000 |
The ending inventory at retail should be
|
| $313000. |
|
| $258200. |
|
| $234600. |
|
| $289400. |
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Introduction To Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen
3rd Edition
0073048836, 9780073048833
