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The following information is available for the past month for a retail store: Sales $87,000 Markups $9,000 Markdowns $9,000 Purchases (at cost) $38,800 Purchases (at
The following information is available for the past month for a retail store:
| Sales | $87,000 |
| Markups | $9,000 |
| Markdowns | $9,000 |
| Purchases (at cost) | $38,800 |
| Purchases (at retail) | $107,000 |
| Beginning inventory (at cost) | $30,000 |
| Beginning inventory (at retail) | $48,186 |
What is the ending inventory at cost using the conventional retail method?
$38,870
$164,186
$78,000
$28,570
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Knowledge Audit Complete Self Assessment Guide Practical Tools For Self Assesment
Authors: Gerardus Blokdyk
1st Edition
0655199837, 978-0655199830
