Question: please see the attached picture for question. Presented below is information related toMarigoldInc. Assuming thatMarigoldInc. uses the conventional retail inventory method, compute the cost of

please see the attached picture for question.

Presented below is information related toMarigoldInc. Assuming thatMarigoldInc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021.(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 the conventional retail inventory method?

please see the attached picture for question. Presented below is information related

QUESTIONTO View Policies Current Attempt in Progress Presented below is information related to Marigold Inc. Cost Retail Inventory, 12/31/20 $254,100 $386,700 Purchases 863,627 1,450,300 Purchase returns 59,400 79,600 Purchase discounts 17,900 Gross sales revenue - 1,413,700 Sales returns 99,400 Markups - 118,700 Markup cancellations - 40,800 Markdowns 44,900 Markdown cancellations - 20,400 Freight-in 42,400 Employee discounts granted 8,000 Loss from breakage (normal) 4,400 Assuming that Marigold 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 decimal places, e.g 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using the conventional retail inventory method $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!