The records of Lohse Stores
included the following data: Inventory, May 1, at retail, $14,500;
at cost, $10,440 Purchases during May, at retail, $42,900; at cost,
$31,550 Freight-in, $2,000; purchase discounts, $250 Additional
markups, $3,800; markup cancellations, $400; net markdowns, $1,300
Sales during May, $45,500 Calculate the estimated inventory at May
31 on a LIFO basis.
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The records of Lohse Stores included the following data: Inventory, May 1, at retail, $14,500; at cost, $10,440 Purchase...
The records of Oriole Stores included the following data: Inventory, May 1, at retail, $15,000; at...
The records of Oriole Stores included the following data: Inventory, May 1, at retail, $15,000; at cost, $10,950 Purchases during May, at retail, $40,500; at cost, $34,500 Freight-in, $2,000; purchase discounts, $260 Additional markups, $4,400; markup cancellations, $420; net markdowns, $1,250 Sales during May, $48,200 Calculate the estimated inventory at May 311 on a LIFO basis. (Round ratios to 2 decimal places, e.g. 75.35% and final answer to 0 decimal places, e.g. 5, 275.) Estimated inventory
Testbank Problem 150 The records of Cullumber Stores included the following data: Inventory, May 1, at retail, $15,500;...
Testbank Problem 150 The records of Cullumber Stores included the following data: Inventory, May 1, at retail, $15,500; at cost, $10,385 Purchases during May, at retail, $41,000; at cost, $39,500 Freight-in, $2,800; purchase discounts, $300 Additional markups, $4,000; markup cancellations, $430; net markdowns, $1,470 Sales during May, $47,300 Calculate the estimated Inventory at May 31 on a LIFO basis. (Round ratios to 2 decimal places, e.g. 75.35% and final answer to 0 decimal places, e.g. 5,275.) Estimated inventory s
Compute the inventory by the conventional retail inventory method. E9-22 (L05) (Retail Inventory Method) The records...
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P9.9 (LO 5) (Retail Inventory Method) Presented below is information related to Waveland Inc. Cost Retail Inventor...
P9.9 (LO 5) (Retail Inventory Method) Presented below is information related to Waveland Inc. Cost Retail Inventory, 12/31/20 $250,000 $ 390,000 Purchases 914,500 1,460,000 Purchase returns 60,000 80,000 Purchase discounts 18,000 Gross sales revenue (after employee discounts) 1,410,000 Sales returns 97,500 Markups 120,000 Markup cancellations 40,000 Markdowns 45,000 Markdown cancellations 20,000 Freight-in 42,000 Employee discounts granted 8,000 Loss from breakage (normal) 4.500 IIIIII 914,500 60,000 18,000 1,460,000 80,000 1,410,000 97.500 120,000 Purchases Purchase returns Purchase discounts Gross sales revenue (after...
The records of Coronado's Boutique report the following data for the month of April. Sales revenue...
The records of Coronado's Boutique report the following data for the month of April. Sales revenue $98,700 Purchases (at cost) $45,500 Sales returns 2,000 Purchases (at sales price) 90,400 Markups 9,300 Purchase returns (at cost) 2,000 Markup cancellations 1,400 Purchase returns (at sales price) 3,100 Markdowns 9,500 Beginning inventory (at cost) 34,755 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,300 Freight on purchases 2,400 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes...
ACC 304: Financial Reporting In Class Problems Chapters 7-9 Problem #4: Retail Inventory Method The records...
ACC 304: Financial Reporting In Class Problems Chapters 7-9 Problem #4: Retail Inventory Method The records of Ellen's Boutique report the following data for the month of April. Sales Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $99,000 2,000 10,000 1,500 9,300 2,800 2,400 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $48,000 88,000 2,000 3,000 30,000 Instructions: Compute the...
6) The records of Ellen's boutique report the following data for the month of October: Sales...
6) The records of Ellen's boutique report the following data for the month of October: Sales $297,000 Sales returns 6,000 Additional markups 30,000 Markup cancellations 4,500 Markdowns 27,900 Markdown cancellations 8,400 Freight of purchases 7,200 Loss due to breakage (retail) 1,000 Purchases (cost) Purchases (retail) Purchase returns (cost) Purchase returns (retail) Beg. Inventory (cost) Beg. Inventory (retail) Employee Discounts $144,000 264,000 6,000 9,000 90,000 139,500 1,500 Using the conventional retail inventory method, compute the cost of their ending inventory. (14...
Saved He The records of Diskount Department Stores Inc. provided the following data for 20x5: $820,000...
Saved He The records of Diskount Department Stores Inc. provided the following data for 20x5: $820,000 Sales (gross) Sales returns Additional markups Additional markup cancellations Markdowns Purchases: 2,050 9,200 5,100 7,200 At retail 870,000 487,500 At cost Purchase returns: At retail At cost Freight on purchases Beginning inventory: At retail At cost Markdown cancellations 4,100 1750 3,750 82,000 46,000 2.250 Required: 1. Estimate the valuation of the ending Inventory and cost of goods sold using the gross margin method. Last...
please help with this exercise . thanks o April E9-22 (L05) (Retail Inventory e Retail Inventory...
please help with this exercise . thanks
o April E9-22 (L05) (Retail Inventory e Retail Inventory Method) The records of Ellen's Boutique report the following t Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $99,000 2.000 10.000 1,500 9,300 2.800 2.400 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $48,000 88,000 2,000 3,000 30,000 46,500 Instructions pute the...
Wally-Mart values its inventory using the conventional retail inventory method. It discloses the following data for...
Wally-Mart values its inventory using the conventional retail inventory method. It discloses the following data for a recent period. At Cost At Retail Beginning inventory $222,200 $330,000 Purchases 710,600 1,238,600 Purchase returns 13,200 22,000 Freight-in 17,600 Additional markups 26,400 Additional markup cancellations 11,000 Markdowns 19,800 Markdown cancellations 4,400 Sales 1,188,000 Sales returns (and restored to inventory) 13,200 Compute estimated ending inventory for the period-end using the conventional retail inventory method.
The records of Oriole Stores included the following data: Inventory, May 1, at retail, $15,000; at cost, $10,950 Purchases during May, at retail, $40,500; at cost, $34,500 Freight-in, $2,000; purchase discounts, $260 Additional markups, $4,400; markup cancellations, $420; net markdowns, $1,250 Sales during May, $48,200 Calculate the estimated inventory at May 311 on a LIFO basis. (Round ratios to 2 decimal places, e.g. 75.35% and final answer to 0 decimal places, e.g. 5, 275.) Estimated inventory
Testbank Problem 150 The records of Cullumber Stores included the following data: Inventory, May 1, at retail, $15,500; at cost, $10,385 Purchases during May, at retail, $41,000; at cost, $39,500 Freight-in, $2,800; purchase discounts, $300 Additional markups, $4,000; markup cancellations, $430; net markdowns, $1,470 Sales during May, $47,300 Calculate the estimated Inventory at May 31 on a LIFO basis. (Round ratios to 2 decimal places, e.g. 75.35% and final answer to 0 decimal places, e.g. 5,275.) Estimated inventory s
Compute the inventory by the conventional retail inventory method. E9-22 (L05) (Retail Inventory Method) The records of Ellen's Boutique report the following data for the month of April Sales revenue Sales returns Markups Markup cancellations $99,000 Purchases (at cost) 2000 Puchases (at sales price) 88,000 2,000 3,000 30,000 10,000 Purchase returns (at cost) 1,500 Purchase returns (at sales price) 9,300 Beginning inventory (at cost) 2,800 Beginning inventory (at sales price) 2.400 Markdowns Freight on purchases the convel ela
P9.9 (LO 5) (Retail Inventory Method) Presented below is information related to Waveland Inc. Cost Retail Inventory, 12/31/20 $250,000 $ 390,000 Purchases 914,500 1,460,000 Purchase returns 60,000 80,000 Purchase discounts 18,000 Gross sales revenue (after employee discounts) 1,410,000 Sales returns 97,500 Markups 120,000 Markup cancellations 40,000 Markdowns 45,000 Markdown cancellations 20,000 Freight-in 42,000 Employee discounts granted 8,000 Loss from breakage (normal) 4.500 IIIIII 914,500 60,000 18,000 1,460,000 80,000 1,410,000 97.500 120,000 Purchases Purchase returns Purchase discounts Gross sales revenue (after...
The records of Coronado's Boutique report the following data for the month of April. Sales revenue $98,700 Purchases (at cost) $45,500 Sales returns 2,000 Purchases (at sales price) 90,400 Markups 9,300 Purchase returns (at cost) 2,000 Markup cancellations 1,400 Purchase returns (at sales price) 3,100 Markdowns 9,500 Beginning inventory (at cost) 34,755 Markdown cancellations 2,800 Beginning inventory (at sales price) 46,300 Freight on purchases 2,400 Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes...
ACC 304: Financial Reporting In Class Problems Chapters 7-9 Problem #4: Retail Inventory Method The records of Ellen's Boutique report the following data for the month of April. Sales Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $99,000 2,000 10,000 1,500 9,300 2,800 2,400 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $48,000 88,000 2,000 3,000 30,000 Instructions: Compute the...
6) The records of Ellen's boutique report the following data for the month of October: Sales $297,000 Sales returns 6,000 Additional markups 30,000 Markup cancellations 4,500 Markdowns 27,900 Markdown cancellations 8,400 Freight of purchases 7,200 Loss due to breakage (retail) 1,000 Purchases (cost) Purchases (retail) Purchase returns (cost) Purchase returns (retail) Beg. Inventory (cost) Beg. Inventory (retail) Employee Discounts $144,000 264,000 6,000 9,000 90,000 139,500 1,500 Using the conventional retail inventory method, compute the cost of their ending inventory. (14...
Saved He The records of Diskount Department Stores Inc. provided the following data for 20x5: $820,000 Sales (gross) Sales returns Additional markups Additional markup cancellations Markdowns Purchases: 2,050 9,200 5,100 7,200 At retail 870,000 487,500 At cost Purchase returns: At retail At cost Freight on purchases Beginning inventory: At retail At cost Markdown cancellations 4,100 1750 3,750 82,000 46,000 2.250 Required: 1. Estimate the valuation of the ending Inventory and cost of goods sold using the gross margin method. Last...
please help with this exercise . thanks
o April E9-22 (L05) (Retail Inventory e Retail Inventory Method) The records of Ellen's Boutique report the following t Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $99,000 2.000 10.000 1,500 9,300 2.800 2.400 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $48,000 88,000 2,000 3,000 30,000 46,500 Instructions pute the...
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