Question: Exercise 9-18 (Algo) Retail inventory method; solving for unknowns [LO9-3] Aztec Corporation uses a periodic inventory system and the retail inventory method to estimate ending

Exercise 9-18 (Algo) Retail inventory method; solving for unknowns [LO9-3] Aztec Corporation 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 month of September: Beginning inventory Net purchases Net markups Net markdowns Net sales Cost $ 26,000 13,000 Retail $ 39,000 ? 8,300 2,300 ? The company used the average cost flow method and estimated inventory at the end of September to be $22,980.00. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50%. Net purchases at retail Net sales Required: Compute net purchases at retail and net sales for the month of September using the information provided. Note: Do not round your intermediate calculations.

Corporation uses a periodic inventory system and the retail inventory method to

Exercise 9-18 (Algo) Retail inventory method; solving for unknowns [LO9-3] Aztec Corporation uses a periodic inventory system and the retall inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of September: The company used the average cost flow method and estimated inventory at the end of September to be $22,980.00. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50% Required: Compute net purchases at retai v nd net sales for the month of September using the information provided. Note: Do not round your intermediate calculations. Exercise 9-18 (Algo) Retail inventory method; solving for unknowns [LO9-3] Aztec Corporation 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 September: The company used the average cost flow method and estimated inventory at the end of September to be $22,980.00. If the compeny had used the LIFO cost flow method, the cost-to-retail percentoge would have been 50%. Required: Compute net purchases at retal and net sales for the month of September using the information provided. Note: Do not round your intermediate calculations

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