Business
Accounting
The records of Ellen’s Boutique report the following data for

The records of Ellen’s Boutique report the following data for

The records of Ellen€™s Boutique report the following data for the month of April.

Instructions
Compute the ending inventory by the conventional retail inventorymethod.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...

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$99,000 Purchases (at cost) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases 2,000 Purchases (at sales price) 10,000 Purchase returns (at cost 1,500 Purchase returns (at sales price) 9,300 Begining inventory (at cost) 2,800 Beginning inventory (at sales price) 2,400 $48,000 88,000 2,000 3,000 30,000 46,500