Calculate ending inventory at cost price

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Reference no: EM13826475

Problem:

Jan's Boutique provides the following information relating to the financial year ending 30 December 20X7

Cost Price Retail Price

$ $

Beginning inventory 58,400 77,600

Net purchases 289,600 386,400

Additional information

Net sales @ retail $392,000

Staff discounts on goods sold $3,200

Required

Calculate ending inventory at cost price using the retail inventory method.

Summary

The question belongs to Accounting and it discusses about calculating inventory at cost price using retail inventory method.

Reference no: EM13826475

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