Question
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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Auditing And Assurance Services
Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau
9th Edition
1266796851, 9781266796852
