Solution-Smith kline company maintains inventory records at

Smith kline company maintains inventory records at selling

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Reference no: EM131010550

Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2016, the records indicate the following data:

	(S in 000s)
	Cost	Retail
Beginning inventory	$ 79	$124
Purchases	670	1,005
Freight-in on purchases	29
Purchase returns	2	3
Net markups		3
Net markdowns		7
Net sales		915

Use the retail method to approximate cost of ending inventory in each of the following ways: (Enter your answers in thousands. Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.)

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Reference no: EM131010550

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Smith kline company maintains inventory records at selling : Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2016, the records indicate the following data: Use the retail method to approximate cost of ending inventory in each of the following ways:

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Smith kline company maintains inventory records at selling

Reference no: EM131010550

Reference no: EM131010550

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