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Business · Accounting
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Cost $ 55,460 131,330 Retail Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue $96,900 199,500 11,348 26,087 193,700 Compute the ending inventory at retail Ending inventory LINK TO TEXT Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, eg, 78.74%) Cost-to-retail percentage (1) Excluding both markups and markdowns (2) Excluding markups but including markdowns (3) Excluding markdowns but including markups (4) Including both markdowns and markups LINK TO TEXTWhich of the methods in (b) above does the following? (1) Provides the most conservative estimate of ending inventory. (2) Provides an approximation of lower-of-cost-or-market. (3) Is used in the conventional retail method. LINK TO TEXT Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, eg. 78.74% and final answer to 0 decimal places, eg. 6,225) Ending inventory LINK TO TEXT Compute cost of goods sold based on (d). (Round answer to 0 decimal places,e.g. 6,225.) Cost of goods sold LINK TO TEXT Compute gross margin based on (d). (Round answer to 0 decimal places, e.g. 6,225. Gross margin

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