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Work in Microsoft Excel, Please! Case 4 (25%) The records for the Prima Co. are summarized below for the month of January ($ in thousands).
Work in Microsoft Excel, Please! Case 4 (25%) The records for the Prima Co. are summarized below for the month of January ($ in thousands). Inventory, January 1: at retail $200,000; at cost $136,000 Purchases in January: at retail $1,096,000; at cost $660,000 Freight-in: $56,000 Purchase returns: at retail $24,000; at cost $18,400 Transfers-in from suburban branch: at retail $104,000; at cost $73,600 Net markups: $64,000 Net markdowns: $32,000 Inventory losses due to normal breakage, etc.: at retail $3,200 Sales at retail: $760,000 Sales returns: $19,200 Required: 1. Compute the inventory for this company as of January 31, at retail prices. 2. Compute the ending inventory using conventional method. 3. Compute the ending inventory using cost method
Work in Microsoft Excel, Please!
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