Find the Cost to retail with the given information? how to get cost to retail percentage. At

Find the Cost to retail with the given information? how to get cost to retail percentage. 

 

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At Cost At Retail $100,000 90,000 54,000 Sales Purchases Inventory, January 1, 2005 Net additional mark-ups Net markdowns $48,000 24,000 12,000 |6,000 (a) Under the average cost retail method (non LCM) the inventory cost on December 31, 2005 is $. (b) Under the retail method on FIFO basis, LCM, the inventory cost on December 31, 2005 is $. At Cost At Retail $100,000 90,000 54,000 Sales Purchases Inventory, January 1, 2005 Net additional mark-ups Net markdowns $48,000 24,000 12,000 |6,000 (a) Under the average cost retail method (non LCM) the inventory cost on December 31, 2005 is $. (b) Under the retail method on FIFO basis, LCM, the inventory cost on December 31, 2005 is $.

Answer rating: 100% (QA)

a Inventory Cost Average Cost Retail 24000 b Inventory Cost FIFO Cost Retail 2500... View the full answer