The September information for the Norfolk store was as shown below. Opening book inventory at retail $109,000 Opening book inventory at cost 44.00% Net sales $16,500 Markdowns 6.00% Purchases at retail $29,000 Purchases at cost $10,750 Returns to vendors at cost $3,500 Returns to vendors at retail $8,000.

What is the closing book inventory at retail? 

What is the closing book inventory at cost?

Answer rating: 100% (QA)

Absolutely we can calculate the closing inventory for the Norfolk store at both retail and cost pric... View the full answer