Question
The records of Pinas Boutique report the following data for the month of April. Sales revenue $103,800 Purchases (at cost) $43,800 Sales returns 1,900 Purchases
The records of Pinas Boutique report the following data for the month of April.
Sales revenue | $103,800 | Purchases (at cost) | $43,800 | |||
---|---|---|---|---|---|---|
Sales returns | 1,900 | Purchases (at sales price) | 92,200 | |||
Markups | 9,300 | Purchase returns (at cost) | 1,900 | |||
Markup cancellations | 1,600 | Purchase returns (at sales price) | 2,800 | |||
Markdowns | 9,600 | Beginning inventory (at cost) | 26,550 | |||
Markdown cancellations | 2,700 | Beginning inventory (at sales price) | 44,400 | |||
Freight on purchases | 2,300 |
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 | $enter the dollar amount of the ending inventory by the conventional retail inventory method rounded to 0 decimal places |
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