The home office ships merchandise to its branch at 20% above cost. The balance before closing in the Intra-company Inventory profit account is P132,000 and Shipments from Home Office amounted to P600,000.The cost of the branch beginning inventory is   60,000 128,000 160,000 192,000

Sales revenue are $110,000. Purchases are $80,000. Beginning balance of inventories are $12,000. Ending balance of inventories are $10,000. Inventory days using average inventories are:

Zhang Company reported Cost of goods sold of $735,000, beginning Inventory of $37,200 and ending Inventory of $46,300. The average Inventory amount is

SMCC Retail Corp had the following info: Beg inventory @ cost = $400,000, @ retail =$790,000 Net Purchases @ cost = $1,475,000, @ retail = $2,350,000   In addition, Mark-ups were $95,000 and Mark-up cancellations were $5,000. Mark-downs were $50,000 and Mark-down cancellations were $10,000. Net Sales were $2,250,000.   REQUIRED: Compute Ending Inventory value using the retail inventory method

The following information is available for the past year for a retail store: Sales $121,000 Sales Returns $1,000 Markups $11,000 Markup cancellations $1,000 Markdowns $9,000 Purchases (at cost) $40,000 Purchases (at retail) $90,000 Beginning inventory (at cost) $30,000​ Beginning inventory (at retail) $40,000​ What is the cost-to-retail ratio to estimate the cost of ending inventory using the conventional retail method? (Round cost-to-retail ratios to four decimal places.) Group of answer choices 53.85% 75% 58.33% 50%

Bijoux Company has sales of $40,000, beginning inventory of $5,000, purchases of $25,000, and ending inventory of $7,000. The cost of goods sold is: A) $23,000 B) $30,000 C) $40,000 D) $17,000

When you undertook the preparation of the financial statements for ABC Company at January 31, 20X1, the following data were available:                                                            At Cost                   At Retail  Inventory, February 1, 20X0            P70,800                   P  98,500 Markdowns                                                                        35,000 Markups                                                                             63,000 Markdown cancellations                                                    20,000 Markup cancellations                                                        10,000 Purchases                                       219,500                     294,000 Sales                                                                                345,000 Purchases returns and allowances   4,300                          5,500 Sales returns and allowances                                            10,000   Compute the ending…

Longmire & Sons made sales on credit to Alderman Sports totaling $500,000 on April 18. The cost of the goods sold is $400,000. Longmire estimates 3% of its sales to Alderman may be returned. On May 22, $9,000 worth of goods (with a cost of $7,200) are returned by Alderman. Longmire uses a periodic inventory system.

Northwest Fur Co. started the year with S93,000 of merchandise inventory on hand. During the year, $450,000 in merchandise was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $8,000. Merchandise with an invoice amount of $4,800 was returned for credit. Cost of goods sold for the year was $378,000. What is ending inventory? $153,743. $168,200. S163,748. S72,000.

Martha Inc. had 20,000 units of ending inventory that were recorded at the cost of five dollars per unit using the FIFO method. The current replacement cost is $4.25 per unit which of the following amounts would be reported as ending merchandise inventory in the balance sheet, using the lower of cost or market rule. A) $85,000 B) $100,000 C) $120,000 D) $185,000