FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Question 5 of 8
Current Attempt in Progress
The records of Vaughn's Boutique report the following data for the month of April.
Sales revenue
Sales returns
Additional markups
Markup cancellations
Markdowns
Markdown cancellations
Freight on purchases
$197,000
Purchases (at cost)
4,000
Purchases (at sales price)
20,900
Purchase returns (at cost)
2,800
Purchase returns (at sales price)
19,900
Beginning inventory (at cost)
5,600 Beginning inventory (at sales price)
1,800
Compute the ending inventory by the conventional retail inventory method.
Ending inventory using conventional retail inventory method $
$101,000
176,000
4,000
6,100
66.990
93,000
!!!!
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