Presented below is information related to Marin Inc. Cost Retail Inventory, 12/31/20 $252,400 $388,200 Purchases 999,875...

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Presented below is information related to Marin Inc. Cost Retail Inventory, 12/31/20 $252,400 $388,200 Purchases 999,875 1,483,400 Purchase returns 59,000 81,400 Purchase discounts 18,400 - Gross sales revenue 1,389,200 Sales returns Markups 98,700 121,400 Markup cancellations 40,100 Markdowns 44,600 Markdown cancellations 20,300 Freight-in 41,600 Employee discounts granted 8,200 Loss from breakage (normal) 4,200 Assuming that Marin Inc. 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 $ 707100 Presented below is information related to Marin Inc. Cost Retail Inventory, 12/31/20 $252,400 $388,200 Purchases 999,875 1,483,400 Purchase returns 59,000 81,400 Purchase discounts 18,400 - Gross sales revenue 1,389,200 Sales returns Markups 98,700 121,400 Markup cancellations 40,100 Markdowns 44,600 Markdown cancellations 20,300 Freight-in 41,600 Employee discounts granted 8,200 Loss from breakage (normal) 4,200 Assuming that Marin Inc. 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 $ 707100

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Calculation of the costtoretail ratio Beginning inventory at cost 252400 Beginning inventory a... View the full answer