Homework Answers
Answer
|
Ending Inventory using conventional retail inventory method |
$ 143,160.00 |
- Working
|
Conventional Retail Method |
||||
|
Cost |
Retail |
Cost to Retail Ratio |
Working |
|
|
Beginning Inventory |
$ 131,980.00 |
$ 286,000.00 |
||
|
Plus: Purchases |
$ 1,361,000.00 |
$ 2,123,000.00 |
||
|
Net Markups |
$ 79,300.00 |
|||
|
$ 1,492,980.00 |
$ 2,488,300.00 |
|||
|
Less: Net MarkDowns |
$ 33,700.00 |
|||
|
Goods Available for sale |
$ 1,492,980.00 |
$ 2,454,600.00 |
||
|
Cost to retail Percentage |
60.00% |
( 1492980 / 2488300 ) x 100 |
||
|
Less: Net Sales |
$ 2,216,000.00 |
|||
|
Estimated ending inventory at retail |
$ 238,600.00 |
2454600 - 2216000 |
||
|
Estimated ending Inventory at cost |
$ 143,160.00 ANSWER |
238600 x 60% |
||
Add Answer to:
Question 10 --/1 View Policies Current Attempt in Progress Presented below is information related to Novak...
Ch 9: Homework Question 3 View Policies Current Attempt in Progress Presented below is information related...
Ch 9: Homework Question 3 View Policies Current Attempt in Progress Presented below is information related to Skysong Company Cost Retail Beginning inventory $194,276 $276.000 1,368,000 2,164,000 Purchases Markups 93,900 Markup cancellations Markdowns 14,100 32.800 5.000 2.239,000 Markdown cancellations Sales revenue Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to decimal places, 8.789 Ending inventory using conventional retail inventory methods e Textbook and Media • Previous
Ch 9: Homework Send to Grad Question 3 View Policies Show Attempt History Current Attempt in...
Ch 9: Homework Send to Grad Question 3 View Policies Show Attempt History Current Attempt in Progress Presented below is information related to Pina Company Cost Beginning inventory $131.980 $285,000 Purchases 1,361,000 2,123,000 Markups 95.000 Markup cancellations 15.700 Markdowns 38.400 Markdown cancellations Sales revenue 4.700 2.216,000 Compute the inventory by the conventional retail inventory method. Round ratios for computational purposes tooded and finala decima Ending inventory using conventional retail inventory methods eTextbook and Media acer
Question 11 --/1 View Policies Current Attempt in Progress The records of Swifty's Boutique report the...
Question 11 --/1 View Policies Current Attempt in Progress The records of Swifty's Boutique report the following data for the month of April. Sales revenue $100,800 Purchases (at cost) $49,000 Sales returns 1,800 Purchases (at sales price) 86,500 Markups 10,300 Purchase returns (at cost) 1,800 Markup cancellations 2,700 1,500 8,700 Purchase returns (at sales price) Beginning inventory (at cost) Markdowns 31,880 Markdown cancellations 2,700 Beginning inventory (at sales price) 42,700 Freight on purchases 2,100 Compute the ending inventory by the...
Presented below is information related to Metlock Company. Cost Retail Beginning inventory $307,645 $285,000 Purchases 1,397,000...
Presented below is information related to Metlock Company. Cost Retail Beginning inventory $307,645 $285,000 Purchases 1,397,000 2,106,000 Markups Markup cancellations 95,200 15,700 33,500 Markdowns Markdown cancellations 4,800 Sales revenue 2,240,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $
Exercise 9-21 Presented below is information related to Novak Company Cost Retail Beginning inventory Purchases Markups...
Exercise 9-21 Presented below is information related to Novak Company Cost Retail Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales revenue $103,540 $281,000 1,376,000 2,105,000 93,600 13,700 38,300 4,800 2,179,000 Compute the inventory by the conventional retail inventory method Round ratios for computational purposes to O decimal places, e g 78% and inal answer to O decimal places, eg, 28,987. Ending inventory using conventional retail inventory methods
Question 11 --/1 View Policies Current Attempt in Progress The records of Pronghorn's Boutique report the...
Question 11 --/1 View Policies Current Attempt in Progress The records of Pronghorn's Boutique report the following data for the month of April. Sales revenue $107,400 $44,200 Purchases (at cost) Purchases (at sales price) Sales returns 1,900 83,000 Markups 10,300 Purchase returns (at cost) 1,900 Markup cancellations 1,400 Purchase returns (at sales price) 3,000 Markdowns 8,600 Beginning inventory (at cost) 22,312 Markdown cancellations 2,700 Beginning inventory (at sales price) 42,300 Freight on purchases 2,300 Compute the ending inventory by the...
Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200...
Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200 80,300 Inventory, 12/31/20 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) LILIT 1,406,400 98,700 121,100 39,400 44,700 20,300 42,200 8,100 4,600 Assuming that Novak Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (Round ratios for computational purposes to...
Question 1 Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail...
Question 1 Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200 80,300 Inventory, 12/31/20 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) TTTTT: 1,406,400 98,700 121,100 39,400 44,700 20,300 42,200 8,100 4,600 Assuming that Novak Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (Round ratios for computational...
Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200...
Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200 80,300 Inventory, 12/31/20 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) 1,406,400 98,700 121,100 39,400 44,700 20,300 42,200 8,100 4,600 Assuming that Novak Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (Round ratios for computational purposes to O...
Presented below is information related to Stellar Company. Cost Retail Beginning inventory $380,418 $282,000 Purchases 1,353,000...
Presented below is information related to Stellar Company. Cost Retail Beginning inventory $380,418 $282,000 Purchases 1,353,000 2,150,000 Markups 96,700 Markup cancellations 16,500 Markdowns 33,200 Markdown cancellations 4,600 Sales revenue 2,206,000 Compute the 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
Ch 9: Homework Question 3 View Policies Current Attempt in Progress Presented below is information related to Skysong Company Cost Retail Beginning inventory $194,276 $276.000 1,368,000 2,164,000 Purchases Markups 93,900 Markup cancellations Markdowns 14,100 32.800 5.000 2.239,000 Markdown cancellations Sales revenue Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to decimal places, 8.789 Ending inventory using conventional retail inventory methods e Textbook and Media • Previous
Ch 9: Homework Send to Grad Question 3 View Policies Show Attempt History Current Attempt in Progress Presented below is information related to Pina Company Cost Beginning inventory $131.980 $285,000 Purchases 1,361,000 2,123,000 Markups 95.000 Markup cancellations 15.700 Markdowns 38.400 Markdown cancellations Sales revenue 4.700 2.216,000 Compute the inventory by the conventional retail inventory method. Round ratios for computational purposes tooded and finala decima Ending inventory using conventional retail inventory methods eTextbook and Media acer
Question 11 --/1 View Policies Current Attempt in Progress The records of Swifty's Boutique report the following data for the month of April. Sales revenue $100,800 Purchases (at cost) $49,000 Sales returns 1,800 Purchases (at sales price) 86,500 Markups 10,300 Purchase returns (at cost) 1,800 Markup cancellations 2,700 1,500 8,700 Purchase returns (at sales price) Beginning inventory (at cost) Markdowns 31,880 Markdown cancellations 2,700 Beginning inventory (at sales price) 42,700 Freight on purchases 2,100 Compute the ending inventory by the...
Presented below is information related to Metlock Company. Cost Retail Beginning inventory $307,645 $285,000 Purchases 1,397,000 2,106,000 Markups Markup cancellations 95,200 15,700 33,500 Markdowns Markdown cancellations 4,800 Sales revenue 2,240,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to O decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method $
Exercise 9-21 Presented below is information related to Novak Company Cost Retail Beginning inventory Purchases Markups Markup cancellations Markdowns Markdown cancellations Sales revenue $103,540 $281,000 1,376,000 2,105,000 93,600 13,700 38,300 4,800 2,179,000 Compute the inventory by the conventional retail inventory method Round ratios for computational purposes to O decimal places, e g 78% and inal answer to O decimal places, eg, 28,987. Ending inventory using conventional retail inventory methods
Question 11 --/1 View Policies Current Attempt in Progress The records of Pronghorn's Boutique report the following data for the month of April. Sales revenue $107,400 $44,200 Purchases (at cost) Purchases (at sales price) Sales returns 1,900 83,000 Markups 10,300 Purchase returns (at cost) 1,900 Markup cancellations 1,400 Purchase returns (at sales price) 3,000 Markdowns 8,600 Beginning inventory (at cost) 22,312 Markdown cancellations 2,700 Beginning inventory (at sales price) 42,300 Freight on purchases 2,300 Compute the ending inventory by the...
Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200 80,300 Inventory, 12/31/20 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) LILIT 1,406,400 98,700 121,100 39,400 44,700 20,300 42,200 8,100 4,600 Assuming that Novak Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (Round ratios for computational purposes to...
Question 1 Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200 80,300 Inventory, 12/31/20 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) TTTTT: 1,406,400 98,700 121,100 39,400 44,700 20,300 42,200 8,100 4,600 Assuming that Novak Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (Round ratios for computational...
Presented below is information related to Novak Inc. Cost $252,200 816,436 59,000 18,300 Retail $383,000 1,461,200 80,300 Inventory, 12/31/20 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) 1,406,400 98,700 121,100 39,400 44,700 20,300 42,200 8,100 4,600 Assuming that Novak Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (Round ratios for computational purposes to O...
Most questions answered within 3 hours.
-
3) What are the typical social structures in a global city?
asked 1 hour ago -
Luther Corporation
Consolidated Balance Sheet
December 31, 2019 and 2018 (in $ millions)
Assets
2019
2018...
asked 1 hour ago -
(Expected rate of return and risk) Carter Inc. is evaluating a
security. Calculate the investment’s expected...
asked 3 hours ago -
What specific indicators can point to lack of progress for
African Americans in American society?
asked 4 hours ago -
1-The Electrons in a beam are moving at 2.7×108 m/s in an
electric field of 15000...
asked 5 hours ago -
A gas tank is a vertical cylinder. It has a radius of 1m, a
height of...
asked 5 hours ago -
Accent Software faces the following conditions. All of these
support Accent’s use of a market-penetration pricing...
asked 6 hours ago -
A mathematically inclined friend emails you the following
instructions: "Meet me in the cafeteria the first...
asked 6 hours ago -
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 7 hours ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 8 hours ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 8 hours ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 9 hours ago