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

:

Expert Solution

ekkarill92 answered 3 years ago

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...

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

The records of Kingbird’s Boutique report the following data for the month of April. Sales revenue $95,600 Purchases (at cost) $47,200 Sales returns 1,800 Purchases (at sales price) 85,800 Markups 9,500 Purchase returns (at cost) 1,800 Markup cancellations 1,400 Purchase returns (at sales price) 2,800 Markdowns 8,600 Beginning inventory (at cost) 36,103 Markdown cancellations 2,700 Beginning inventory (at sales price) 50,600 Freight on purchases 2,100 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes...

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

The records of Teal’s Boutique report the following data for the month of April. Sales revenue $108,600 Purchases (at cost) $49,700 Sales returns 1,900 Purchases (at sales price) 92,100 Markups 9,200 Purchase returns (at cost) 1,900 Markup cancellations 1,300 Purchase returns (at sales price) 2,800 Markdowns 8,300 Beginning inventory (at cost) 35,220 Markdown cancellations 2,600 Beginning inventory (at sales price) 45,000 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes...

The records of Ellen's Boutique report the following data for the month of April. Sales Revenue...

The records of Ellen's Boutique report the following data for the month of April. Sales Revenue 95600 Sales Returns 1800 Markups 9500 Markup Cancellations 1400 Markdowns 8600 Markdown Cancellations 2700 Freight on purchases 2100 Purchases (@ Cost) 47200 Purchases (@ sales price) 85800 Purchase Returns (@ cost) 1800 Purchase Returns (@ sales) 2800 Beg Inventory @ cost 36103 Beg. Inventory @ sales 50600 Compute the ending inventory by the conventional retail inventory method

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

The records of Buffalo’s Boutique report the following data for the month of April. Sales revenue $107,900 Purchases (at cost) $51,900 Sales returns 2,000 Purchases (at sales price) 82,700 Markups 10,900 Purchase returns (at cost) 2,000 Markup cancellations 1,700 Purchase returns (at sales price) 3,100 Markdowns 8,600 Beginning inventory (at cost) 28,117 Markdown cancellations 2,800 Beginning inventory (at sales price) 47,500 Freight on purchases 2,400 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes...

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

The records of Bramble’s Boutique report the following data for the month of April. Sales revenue $106,300 Purchases (at cost) $51,500 Sales returns 2,100 Purchases (at sales price) 88,500 Markups 10,100 Purchase returns (at cost) 2,100 Markup cancellations 1,700 Purchase returns (at sales price) 3,000 Markdowns 9,800 Beginning inventory (at cost) 17,564 Markdown cancellations 2,900 Beginning inventory (at sales price) 42,500 Freight on purchases 2,600 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes...

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

The records of Larkspur’s Boutique report the following data for the month of April. Sales revenue $91,200 Purchases (at cost) $45,400 Sales returns 1,900 Purchases (at sales price) 92,100 Markups 10,000 Purchase returns (at cost) 1,900 Markup cancellations 1,300 Purchase returns (at sales price) 3,000 Markdowns 9,200 Beginning inventory (at cost) 36,560 Markdown cancellations 2,600 Beginning inventory (at sales price) 44,200 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method Ending inventory using conventional retail...

he records of Teal’s Boutique report the following data for the month of April. Sales revenue...

he records of Teal’s Boutique report the following data for the month of April. Sales revenue $89,500 Purchases (at cost) $49,400 Sales returns 1,900 Purchases (at sales price) 95,900 Markups 10,500 Purchase returns (at cost) 1,900 Markup cancellations 1,600 Purchase returns (at sales price) 2,900 Markdowns 8,700 Beginning inventory (at cost) 28,799 Markdown cancellations 2,700 Beginning inventory (at sales price) 46,400 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes...

The records of Ayayai Menswear report the following data for the month of September: Sales $117,500...

The records of Ayayai Menswear report the following data for the month of September: Sales $117,500 Purchases (at cost) $59,000 Sales returns 2,600 Purchases (at sales price) 112,000 Additional markups 10,600 Purchase returns (at cost) 2,600 Markup cancellations 1,600 Purchase returns (at sales price) 3,400 Markdowns 9,300 Beginning inventory (at cost) 33,000 Markdown cancellations 2,800 Beginning inventory (at sales price) 48,000 Freight on purchases 3,600 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal...

A company's inventory records indicate the following data for the month of April: April 1 Beginning...

A company's inventory records indicate the following data for the month of April: April 1 Beginning 350 units at $18 each April 5 Purchase 290 units at $20 each April 9 Sale 500 units at $55 each April 14 Purchase 250 units at $22 each April 20 Sale 200 units at $55 each April 30 Purchase 240 units at $25 each The company uses the perpetual inventory system What would be the cost of the ending inventory under the following...

Question