Kiddie World uses a periodic Inventory system and the retail Inventory method to estimate ending Inventory and cost of goods sold. The following data are available at the end of the year. Cost $470,000 945,000 12,100 Retail $ 600,000 1,380,000 65,000 Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales 35,000 1,285,000 Estimate ending Inventory and cost of goods sold (LIFO). Note: Round ratio calculation to 2 decimal places (l.e., 0.1234 should be entered as 12.34%.)

Kiddie World uses a periodic inventory system and the retail Inventory method to estimate ending inventory and cost of goods sold. The following data are available at the end of the year. Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales Cost $ 380,000 895,000 68,200 Beginning inventory Plus. Net purchases Freight-in Net markups Goods available for sale Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Retail $ 520,000 1,290,000 Estimate ending Inventory and cost of goods sold using the conventional method. Note: Round ratio calculation to 2 decimal places (1.e., 0.1234 should be entered as 12.34%.) $ 56,000 26,000 1,240,000 Cost 380,000 $ 895,000 68,200 1,343,200 $ Retail 520,000 1,290,000 56,000 1,866,000 (26,000) 1,840,000 (1,240,000) 600,000 Cost to Retail Ratio 4

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2021: Cost Retail Beginning inventory $ 320,000 $ 465,000 Net purchases 863,000 1,230,000 Freight-in 24,500 Net markups 50,000 Net markdowns 20,000 Net sales 1,210,000   Estimate ending inventory and cost of goods sold using the conventional method. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.))

UMET's Stores had the following inventory transactions in 2020:                       Transaction             Units          Cost per unit 1/1                 Balance                    50                      $6 2/14               Sale                          25                        5/23              Purchase                  100                     8 8/21              Sale                           50                      11/5              Purchase                   25                     12 11/18            Sale                           95                        Required: Compute tge cost of goods sold and the ending inventory using the periodic inventory system for each of the following cost flow assumptions: a. FIFO b. LIFO c. Weighted average

Laura's Department Store uses the average cost retail inventory method to determine its ending inventory. The accounting records for the current year for Laura's contained the following information:   Cost Retail Purchases $71,200 $87,750 Beginning inventory 17,000 23,500 Sales   98,000 Net markups   6,500 Net markdowns   3,000 In addition, the accounting records for Laura's disclosed that purchases returns at cost and retail were $1,950 and $4,250, respectively. What is the cost-to-retail percentage to be used for ending inventory calculations? A 76.8% B 79.8% C 78.1% D 75.1%

You have the following information for Bramble Inc. for the month ended June 30, 2022. Bramble uses a periodic inventory system. Date   Description   Quantity   Unit Cost orSelling Price June   1   Beginning inventory   40     $31   June   4   Purchase   135     34   June   10   Sale   110     61   June   11   Sale return   15     61   June   18   Purchase   55     37   June   18   Purchase return   10     37   June   25   Sale   65     67   June   28   Purchase   35     41

Determine the Ending Inventory and Gross Profit using FIFO and LIFO for the quarter ending 3/31/XX for Company W (a widget reseller) based on the following information (Inventory on 1/14/XX = 0):            Action Date Amount Cost             Purchase 1/15/XX 150 Widgets $10 per Widget   Purchase 2/15/XX 250 Widgets $11 per Widget   Purchase 3/15/XX 600 Widgets $12 per Widget   Total   1,000 Widgets               Sell 3/20/XX 400 Widgets $20 per Widget   Sell 3/25/XX 300 Widgets $20 per Widget       700 Widgets       FIFO Inventory = LIFO Inventory = FIFO Gross Profit = LIFO Gross Profit =

On June 30, Cullumber Fabrics has the following data pertaining to the retail inventory method. Goods available for sale: at cost $49,920, at retail $64,000; net sales $51,200; and ending inventory at retail $12,800. Compute the estimated cost of the ending inventory using the retail inventory method. Estimated cost of ending inventory   $

sanjay

Given the following, calculate: Cost of goods available for sale, the ending inventory at retail, the estimated cost of goods sold and estimated ending inventory using the gross profit method.   Cost Beginning inventory: $ 29,000.00 Net Purchases: $ 3,900.00 Net sales at retail: $ 17,000.00 Gross profit on sale: 55% Required: Using the information above complete the highlighted cells in the chart: Cost of goods available for sale: Ending inventory at retail: Estimated cost of goods sold: Estimated ending inventory: