Business, 09.07.2020 03:01 fortforeman5
The following data concerning the retail inventory method are taken from the financial records of Ivanhoe Company.
Cost Retail
Beginning Inventory $201,000 $278,000
Purchases 889,000 1,280,000
Freight-in 23500
Net markups 78700
Net markdowns 56200
Sales 1,334,000
The ending inventory at retail should be:
a. $270000.
b. $246500.
c. $326200.
d. $302700.
Answers: 3
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The following data concerning the retail inventory method are taken from the financial records of Iv...
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