Presented below is information related to XYZ, Inc. Cost Retail Beginning inventory Purchases $ 425,000 1,900,000 81,000 $ 750,000 3,350,000 Freight on purchases Markups Markup cancellatioth Abnormal shortage 175,000 140,000 26,000 15,000 88,000 12,000 5,200 3,575,000 100,000 17,500 41,000 Markdowns Markdown cancellations Employee discounts Sales revenue Sales retums Normal shortage Purchase returns 22,000 Instructions Compute ending inventory by the conventional retail inventory method. Round percentages to three decimal places (for example, round 0.4158 to 41.6%) For the toolbar, press ALTF10 (PC) or ALT+FN+F10 (Mac)
Presented below is information related to XYZ, Inc. Cost Retail Beginning inventory Purchases $ 425,000 1,900,000 81,000 $ 750,000 3,350,000 Freight on purchases Markups Markup cancellatioth Abnormal shortage 175,000 140,000 26,000 15,000 88,000 12,000 5,200 3,575,000 100,000 17,500 41,000 Markdowns Markdown cancellations Employee discounts Sales revenue Sales retums Normal shortage Purchase returns 22,000 Instructions Compute ending inventory by the conventional retail inventory method. Round percentages to three decimal places (for example, round 0.4158 to 41.6%) For the toolbar, press ALTF10 (PC) or ALT+FN+F10 (Mac)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Presented below is information related to XYZ, Inc.
Cost
Retail
$ 425,000
1,900,000
81,000
$ 750,000
3,350,000
Beginning inventory
Purchases
Freight on purchases
Markups
Markup cancellatioth
Abnormal shortage
Markdowns
Markdown cancellations
Employee discounts
175,000
140,000
26,000
88,000
12,000
5,200
3,575,000
100,000
17,500
41,000
15,000
Sales revenue
Sales returns
Normal shortage
Purchase returns
22,000
Instructions
Compute ending inventory by the conventional retail inventory method, Round percentages to three decimal places (for example, round 0.4158 to 41.6%)
For the toolbar, press ALTF10 (PC) or ALT+FN+F10 (Mac)
...
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