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The following data is from Netflicks Company for the year. Sales revenue $96,000 Beginning inventory 12,800 Purchases 64,000 **For each separate case a through e,
The following data is from Netflicks Company for the year.
Sales revenue | $96,000 |
Beginning inventory | 12,800 |
Purchases | 64,000 |
**For each separate case a through e, estimate ending inventory.** Note: Carry all decimals in calculations; round the final answer to the nearest dollar.
a. Markup is 33.3% on cost. | Answer
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b. Markup is 60% on sales. | Answer
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c. Markup is 25% on cost. | Answer
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d. Markup is 40% on sales. | Answer
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e. Markup is 37% on cost. | Answer
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