The records for the Clothing Department of Kingbird's Discount Store are summarized below for the month of January. Inventory, January 1: at retail $24,800; at cost $16,800 Purchases in January: at retail $139,500; at cost $76,339 Freight-in: $7,200 Purchase returns: at retail $3,100; at cost $2,200 Transfers in from suburban branch: at retail $13,000; at cost $9,300 Net markups: $7,900 Net markdowns: $4,100 Inventory losses due to normal breakage, etc.: at retail $500 Sales revenue at retail: $96,400 Sales returns: $2,300 (a) Compute the inventory for this department as of January 31, at retail prices. Ending inventory at retail $

The records of Hamilton Apparel display the following data for the month of October: Sales $72,500 Purchase (at cost) $35,000 Sales returns $1,500 Purchase (at retail) $65.800 Markups $6,500 Purchase return (at cost) $1,500 Markup cancellations $900 Purchase return (at retail) $2,100 Markdowns $5,200 Beginning inventory (at cost) $20,500 Markdown cancellations $1,200 Beginning inventory (at retail) $30,700 Freight on purchase $2,200 Required: a. Estimate the ending inventory using the retail inventory method. Round the cost ratio to two decimal places based on % (e.g, 36.76%). [Please note it is NOT conventional retail method]. W b. Estimate the ending inventory using the conventional retail inventory method. Round the cost ratio to two decimal places based on % (e.g, 36.76%).

The records of Hot’s Department Store report the following data for the month of January:   Beginning inventory at cost P  440,000 Beginning inventory at sales price 800,000 Purchases at cost 4,500,000 Initial markup on purchases 2,900,000 Purchase returns at cost 240,000 Purchase returns at sales price 350,000 Freight on purchases 100,000 Additional markup 250,000 Markup cancellations 100,000 Markdown 600,000 Markdown cancellations 100,000   Net sales 6,500,000 Sales allowance 100,000 Sales returns 500,000 Employee discounts 200,000 Theft and other losses 100,000   Using the average retail inventory method, Hot’s ending inventory at cost is

The records of Carla's Boutique report the following data for the month of April. Sales revenue $95,600 Purchases (at cost) $47,200 Sales returns 1,800 Purchases (at sales price) 85,800 Markups 9,500 Purchase returns (at cost) 1,800 Markup cancellations 1,400 Purchase returns (at sales price) 2,800 Markdowns 8,600 Beginning inventory (at cost) 36,103 Markdown cancellations 2,700 Beginning inventory (at sales price) 50,600 Freight on purchases 2,100 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, eg 78% and final answer to O decimal places, eg. 28,987.) Ending inventory using conventional retail inventory method 2$

Compute the inventory for this department as of January 31, at retail prices. Ending Inventory $ ______________

The records of Sage’s Boutique report the following data for the month of April. Sales revenue   $91,200   Purchases (at cost)   $45,400 Sales returns   1,900   Purchases (at sales price)   92,100 Markups   10,000   Purchase returns (at cost)   1,900 Markup cancellations   1,300   Purchase returns (at sales price)   3,000 Markdowns   9,200   Beginning inventory (at cost)   36,560 Markdown cancellations   2,600   Beginning inventory (at sales price)   44,200 Freight on purchases   2,300         Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method   $enter the dollar amount of the ending inventory by the conventional retail inventory method rounded to 0 decimal places

The following information is from Tejas WindowTint's financial records. Month April May June July Sales $ 72,000 71,000 66,000 88,000 Purchases $ 61,000 60,000 48,000 66,000 Collections from customers are normally 69 percent in the month of sale, 19 percent in the month following the sale, and 10 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 1 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $67,000, and sales for August are forecasted at $73,000. Cash disbursements for expenses are expected to be $16,000 for the month of August. The company's cash balance on August 1 was $29,000. Required: 1. Prepare the expected cash collections during August. 2. Prepare the expected cash disbursements during August. 3. Calculate the expected cash balance on August 31. Complete this question by entering your answers…

The records of Binmaley’s Department Store report the following data for the month of January:   Beginning inventory at cost 440,000 Beginning inventory at sales price 800,000 Purchases at cost 4,500,000 Initial markup on purchases 2,900,000 Purchase returns at cost 240,000 Purchase returns at sales price 350,000 Freight on purchases 100,000 Additional markup 250,000 Markup cancellations 100,000 Markdown 600,000 Markdown cancellations 100,000   Net sales 6,500,000 Sales allowance 100,000 Sales returns 500,000 Employee discounts 200,000 Theft and other losses 100,000   Using the average retail inventory method, Binmaley’s ending inventory at cost is a. 360,000 b. 420,000 c. 448,000 d. 384,000

The records of Culver's Boutique report the following data for the month of April. Sales revenue $103,800 Purchases (at cost) $43,800 Sales returns 1,900 Purchases (at sales price) 92,200 Markups 9,300 Purchase returns (at cost) 1,900 Markup cancellations 1,600 Purchase returns (at sales price) 2,800 Markdowns 9,600 Beginning inventory (at cost) 26,550 Markdown cancellations 2,700 Beginning inventory (at sales price) 44,400 Freight on purchases 2,300 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method %24

The records of Vaughn's Boutique report the following data for the month of April. Sales revenue $97,100 Purchases (at cost) $47,800 Sales returns 2,100 Purchases (at sales price) 86,100 Markups 10,400 Purchase returns (at cost) 2,100 Markup cancellations 1,500 Purchase returns (at sales price) 3,100 Markdowns 10,200 Beginning inventory (at cost) 24,251 Markdown cancellations 2,900 Beginning inventory (at sales price) 44,800 Freight on purchases 2,500 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, eg. 78% and final answer to 0 decimal places, eg. 28,987.) Ending inventory using conventional retail inventory method %$4