Question
The September information for the Norfolk Store was as shown below. It has a 54% markup: Opening book inventory at retail: $109,000.00, Net Sale: $16,500.00,
The September information for the Norfolk Store was as shown below. It has a 54% markup: Opening book inventory at retail: $109,000.00, Net Sale: $16,500.00, Markdowns 6.00%, Purchases at Retail: $29,000.00, RTV:$3,500.00. What is the closing book inventory at Retail? What is the closing book inventory at cost?
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Gleim CIA Review Part 2 Practice Of Internal Auditing
Authors: Irvin N. Gleim
2020 Edition
1618542648, 978-1618542649
