The records of Sweet’s Boutique report the following data for the month of April. Sales revenue...

The records of Sweet’s Boutique report the following data for the month of April.

Sales revenue	$97,100	Purchases (at cost)	$47,800
Sales returns	2,100	Purchases (at sales price)	86,100
Markups	10,400	Purchase returns (at cost)	2,100
Markup cancellations	1,500	Purchase returns (at sales price)	3,100
Markdowns	10,200	Beginning inventory (at cost)	24,251
Markdown cancellations	2,900	Beginning inventory (at sales price)	44,800
Freight on purchases	2,500

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

Expert Solution

ekkarill92 answered 2 years ago

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