Cost |
Retail |
Ratio |
|
Inventory |
250800 |
330000 |
76 |
Purchases |
422400 | 528000 |
80 |
1) With 9% price level, inventory = $323730 / 1.09 = 297,000
It is lesser than the $330,000 beginning inventory thus inventory at cost :
297,000 * 76% = 225,720
2) With 9% price level, inventory = $401665 / 1.09 = 368,500
Thus there an increase of $38,500 (= $368500 - $330000)
New layer at retail: 38500 * 1.09 = 41965
New layer at cost: 41965 * 80% = 33572
Plus base layer: 250800
Inventory at cost : $284,372
You assemble the following information for Swifty Department Store, which computes its inventory under the dollar-value...
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