Determining retail inventory method

Assignment Help Accounting Basics

Reference no: EM13143209

Presented below is information related to Greene Company.

Cost Retail
Beginning Inventory $50,000 $70,000
Purchases 343,750 535,000
Markups 23,750
Markup cancellations 3,750
Markdowns 8,750
Markdown cancellations 1,250
Sales 550,000

Instructions

Compute the inventory by the conventional retail inventory method.

Reference no: EM13143209

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Determining retail inventory method : Presented below is information related to Greene Company. Compute the inventory by the conventional retail inventory method.

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