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The records of Bramble Menswear report the following data for the month of September: Sales $117,600 Purchases (at cost) $61,300 Sales returns 114,000 2,800 Purchases
The records of Bramble Menswear report the following data for the month of September: Sales $117,600 Purchases (at cost) $61,300 Sales returns 114,000 2,800 Purchases (at sales price) 11,700 Purchase returns (at cost) Additional markups 3,100 Markup cancellations 1,700 Purchase returns (at sales price) 3,400 Markdowns 40,600 10,100 Beginning inventory (at cost) 3,100 Beginning inventory (at sales price) Markdown cancellations 49,000 Freight on purchases 4,200 Your answer is partially correct. Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, e.g. 5,275.) Ending inventory, at retail 47800 $ $ Ending inventory, at cost 29029 eTextbook and Media X Your answer is incorrect. Assuming that a physical count of the inventory determined that the actual ending inventory at retail prices at the end of September was $40,600, estimate the loss due to shrinkage and theft. (Round intermediate calculations to 2 decimal places, e.g. 15.21% and the final answer to 0 decimal places, e.g. 5,275.) 7200 Estimated loss due to shrinkage and theft $
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