Solution-Compute the cost of its ending inventory at

Compute the cost of its ending inventory at december

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	Cost	Retail
Inventory, 12/31/20	$252,200	$383,000
Purchases	816,436	1,461,200
Purchase returns	59,000	80,300
Purchase discounts	18,300
Gross sales revenue		1,406,400
Sales returns		98,700
Markups		121,100
Markup cancellations		39,400
Markdowns		44,700
Markdown cancellations		20,300
Freight-in	42,200
Employee discounts granted		8,100
Loss from breakage (normal)		4,600	Let our 24/7 Accounting tutors help you get unstuck!	X

Problem 1: Assuming that Shamrock 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.)

Reference no: EM132782839

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Compute the cost of its ending inventory at december

Reference no: EM132782839

Reference no: EM132782839

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