Question: please show the work to answer this is one question pls and thank you A retailer has a beginning monthly inventory valued at $60,000 at
A retailer has a beginning monthly inventory valued at $60,000 at cost and $135,000 at retail. Net purchases during the month are $150,000 at retail and $70,000 at cost. Transportation charges are $15,000. Sales are $150,000, Markdowns and discounts equal $20,000. A physical inventory at the end of the month shows merchandise valued at $110,000 (at retail) on hand. Compute the following: - a. Total merchandise available for sale - at cost and at retail - b. Cost complement - c. Ending retail book value of inventory - d. Stock shortages - e. Adjusted ending retail book value - f. Gross profit
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