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The records of Ellens Boutique report the following data for the month of April. Sales revenue $94,900 Purchases (at cost) $70,500 Sales returns 4,300 Purchases
The records of Ellens Boutique report the following data for the month of April.
Sales revenue | $94,900 | Purchases (at cost) | $70,500 |
Sales returns | 4,300 | Purchases (at sales price) | 96,600 |
Markups | 12,400 | Purchase returns (at cost) | 4,300 |
Markup cancellations | 1,400 | Purchase returns (at sales price) | 5,300 |
Markdowns | 9,500 | Beginning inventory (at cost) | 29,459 |
Markdown cancellations | 5,200 | Beginning inventory (at sales price) | 57,000 |
Freight on purchases | 4,700 |
Compute the ending inventory by the conventional retail inventory method.(Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method | $ |
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