Reference no: EM132711185
Question - Joshua's Department Store provided the following data as of October 30, 2020
Cost Selling Price
Inventory, October 1,2020 362000 537000
Markups 195000
Markup cancellations 38000
Markdowns 60,000
Markdown cancellations 23,000
Purchases 830,000 1,500,000
Purchases returns and allowances 16,000 25,000
Sales 1,680,000
Sales returns and allowances 80,000
Required - Create a schedule to compute the estimated inventory at October 30, 2020.
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