PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU!
Homework Answers
| Cost | Retail | Cost to retail ratio | |
| Beginning inventory | $280,000 | $289,000 | |
| Plus : Purchases | $687,000 | $912,000 | |
| Freight-in | $17,000 | ||
| Net markups | $29,000 | ||
| Less : Net markdowns | $4,900 | ||
| Goods available for sale | $984,000 | $1,225,100 | |
| Cost to retail percentage | 80.32% | ||
| Less : Net sales | $890,000 | ||
| Estimated ending inventory at retail | $335,100 | ||
| Estimated ending inventory at cost | $269,152 ($335,100*80.32%) |
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PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Campbell Corporation uses the...
Campbell Corporation uses the retail method to value its inventory. The following information is available for...
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018: Cost $ 280,000 687,000 17,000 Retail $289,000 912,000 Merchandise inventory, January 1, 2018 Purchases Freight-in Net markups Net markdowns Net sales 29,000 4,900 890,000 Required: Determine the December 31, 2018, inventory by applying the conventional retail method. Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Purchases Freight-in Net markups Less: Net markdowns Goods available for sale 0 0 Cost-to-retail percentage Less: Net...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! Required Information LeMay Department...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required Information LeMay Department Store uses the retall inventory method to estimate ending Inventory for its monthly financial statements. The following data pertaln to one of its largest departments for the month of March 2021: Cost Retail 59,000 79,000 Beginning inventory Purchases 226,000 15,578 9,000 419,000 Freight-in Purchase returns 11,500 7,70e 5,400 11,500 299,000 2,10e Net markups Net markdowns Normal breakage Net sales Employee discounts Sales are recorded...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! Almaden Valley Variety Store...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Almaden Valley Variety Store uses the retail Inventory method to estimate ending Inventory and cost of goods sold. Data for 2021 are as follows: Cost $ 29,000 119,600 6,910 8,000 Retail $ 37,000 182,000 Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales 10,000 14,500 11,500 5,900 169,000 Required: Complete the table below to estimate the ending Inventory and cost of goods sold...
Campbell Corporation uses the retail method to value its inventory. The following information is available for...
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021 Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales Cost Retail $230,000 $284,000 584,000 872,000 12,000 24,000 4,400 840,000 Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. Cost Retail Cost-to- Retail Ratio Beginning inventory Plus: Purchases Freight-in Net markups 0 Less: Net markdowns Goods available for sale Cost-to-retail...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! San Lorenzo General Store...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
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 avallable for the month of October 2021: Retail Cost Beginning inventory Net purchases Net markups $39,000 17,290 $54,000 32,000 1,600 1,000 36,000 Net markdowns Net sales Required: Complete the table below to estimate the average cost of ending inventory and cost...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! Crosby Company owns a...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Crosby Company owns a chain of hardware stores throughout the state. The company 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 three months ending March 31, 2021: Cost $240,000 608,000 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $363,000 788,000 14,000 2,000 780,000 Required: Complete the table...
provided Campbell Corporation uses the retail method to value its inventory. The following information is available...
provided Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Retail Cost $190,000 $280,000 Merchandise inventory, January 1, 2021 Purchases 600,000 840,000 8,000 Freight-in Net markups 20,000 4,000 Net markdowns 800,000 Net sales Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided.
Campbell Corporation uses the retail method to value Its inventory. The following Information Is available for...
Campbell Corporation uses the retail method to value Its inventory. The following Information Is available for the year 2016: Merchandise inventory $370,000 $298,000 726,000 984,000 January 1, 2016 Purchases Freight-In Net markups Net markdowns Net sales 26,000 38,000 5,800 980,000 Required: Determine the December 31, 2016, inventory that approximates average cost, lower of cost and net realizable value. Cost-to-Retail Ratio Retail Beginning inventory Plus: Purchases Freight-in Net markups Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Net sales...
Campbell Corporation uses the retail method to value its inventory. The following information is available for...
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018 5 Retail Merchandise inventory, January 1, 2018 Purchases Freight-in Net markups Net markdowns Net sales $300,000 $291,000 581,000 928,009 19,000 15 points 31,000 5,000 910,000 Skipped Required Determine the December 31, 2018, inventory by applying the conventional retail method. eBook t-to Cost Retail Beginning inventory Plus: Purchases Print Freight-in Net markups Less Net markdowns Goods available for sale Cost-to-retail percentage Less...
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021:
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: CostRetailMerchandise inventory, January 1, 2021$390,000$320,000Purchases587,000980,000Freight-in28,000Net markups40,000Net markdowns6,000Net sales1,000,000Required:Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided.
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018: Cost $ 280,000 687,000 17,000 Retail $289,000 912,000 Merchandise inventory, January 1, 2018 Purchases Freight-in Net markups Net markdowns Net sales 29,000 4,900 890,000 Required: Determine the December 31, 2018, inventory by applying the conventional retail method. Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Purchases Freight-in Net markups Less: Net markdowns Goods available for sale 0 0 Cost-to-retail percentage Less: Net...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Required Information LeMay Department Store uses the retall inventory method to estimate ending Inventory for its monthly financial statements. The following data pertaln to one of its largest departments for the month of March 2021: Cost Retail 59,000 79,000 Beginning inventory Purchases 226,000 15,578 9,000 419,000 Freight-in Purchase returns 11,500 7,70e 5,400 11,500 299,000 2,10e Net markups Net markdowns Normal breakage Net sales Employee discounts Sales are recorded...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Almaden Valley Variety Store uses the retail Inventory method to estimate ending Inventory and cost of goods sold. Data for 2021 are as follows: Cost $ 29,000 119,600 6,910 8,000 Retail $ 37,000 182,000 Beginning inventory Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales 10,000 14,500 11,500 5,900 169,000 Required: Complete the table below to estimate the ending Inventory and cost of goods sold...
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021 Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales Cost Retail $230,000 $284,000 584,000 872,000 12,000 24,000 4,400 840,000 Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided. Cost Retail Cost-to- Retail Ratio Beginning inventory Plus: Purchases Freight-in Net markups 0 Less: Net markdowns Goods available for sale Cost-to-retail...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
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 avallable for the month of October 2021: Retail Cost Beginning inventory Net purchases Net markups $39,000 17,290 $54,000 32,000 1,600 1,000 36,000 Net markdowns Net sales Required: Complete the table below to estimate the average cost of ending inventory and cost...
PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE
THANK YOU!
Crosby Company owns a chain of hardware stores throughout the state. The company 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 three months ending March 31, 2021: Cost $240,000 608,000 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $363,000 788,000 14,000 2,000 780,000 Required: Complete the table...
provided Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Retail Cost $190,000 $280,000 Merchandise inventory, January 1, 2021 Purchases 600,000 840,000 8,000 Freight-in Net markups 20,000 4,000 Net markdowns 800,000 Net sales Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided.
Campbell Corporation uses the retail method to value Its inventory. The following Information Is available for the year 2016: Merchandise inventory $370,000 $298,000 726,000 984,000 January 1, 2016 Purchases Freight-In Net markups Net markdowns Net sales 26,000 38,000 5,800 980,000 Required: Determine the December 31, 2016, inventory that approximates average cost, lower of cost and net realizable value. Cost-to-Retail Ratio Retail Beginning inventory Plus: Purchases Freight-in Net markups Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Net sales...
Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018 5 Retail Merchandise inventory, January 1, 2018 Purchases Freight-in Net markups Net markdowns Net sales $300,000 $291,000 581,000 928,009 19,000 15 points 31,000 5,000 910,000 Skipped Required Determine the December 31, 2018, inventory by applying the conventional retail method. eBook t-to Cost Retail Beginning inventory Plus: Purchases Print Freight-in Net markups Less Net markdowns Goods available for sale Cost-to-retail percentage Less...
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