San Lorenzo General Store 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 month of October 2013: Cost Retail Beginning inventory Net purchases Net markups Net markdowns Net sales Required: $ 49,000 14,765 $ 64,000 33,000 2,600 1,500 46,000 Calculate the table to estimate the average cost of ending inventory and cost of goods sold for October. Do not approximate LCM.

San Lorenzo General Store 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 month of October 2013: Cost Retail Beginning inventory Net purchases Net markups Net markdowns Net sales Required: $ 49,000 14,765 $ 64,000 33,000 2,600 1,500 46,000 Calculate the table to estimate the average cost of ending inventory and cost of goods sold for October. Do not approximate LCM.

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Description: Please do not give solution in image format thanku San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventoryand cost of goods sold. The following data are available for the month of Octobe

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 5EB: Bleistine Company had the following transactions for the month. Calculate the ending inventory...

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