pen Assignment Exercise 9-22 The records of Headland\'s Boutique report the foll

Question

pen Assignment Exercise 9-22 The records of Headland's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations 2,800 Beginning inventory (at sales price) 48,800 Freight on purchases Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational pu 0 decimal places, e.g. 28,987) 9-10 P. sion 100,100Purchases (at cost) 1,900Purchases (at sales price) 9,500 Purchase returns (at cost) 1,500 Purchase returns (at sales price) 9,800Beginning inventory (at cost) $47,400 95,300 1,900 2,900 37,344 2,200 Ending inventory using conventional retail inventory method s cick if you woutd like to show work for thils questions oen Shau Wrk Question Atte Panel This PC

Explanation / Answer

Ending inventory under Retail inventory method.

Particulars Cost Retail Beginning Inventory 37344 48800 Purchases (Net) 45500 92400 Items available for Sale 82844 141200 Add: Markups (Net) 8000 Add: Freight 2200 Totals 85044 149200 Less: Markdowns (Net) 7000 Less: Sales (Net) 98200 Ending inventory at retail 44000

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