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

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

Sales revenue	$100,000	Purchases (at cost)	$44,600
Sales returns	2,000	Purchases (at sales price)	87,600
Markups	10,900	Purchase returns (at cost)	2,000
Markup cancellations	1,500	Purchase returns (at sales price)	2,900
Markdowns	8,500	Beginning inventory (at cost)	29,200
Markdown cancellations	2,700	Beginning inventory (at sales price)	48,400
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

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Expert Solution

ekkarill92 answered 2 years ago

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