Ending inventory at costusing conventional retail method

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Reference no: EM131257401

Boyne Inc. had beginning inventory of $12,000 at cost and $20,000 at retail. Netpurchases were $120,000 at cost and $170,000 at retail. Net markups were $10,000; netmark downs were $7,000; and sales revenue was $147,000. Compute ending inventory at costusing the conventional retail method.

Reference no: EM131257401

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Ending inventory at costusing conventional retail method : Boyne Inc. had beginning inventory of $12,000 at cost and $20,000 at retail. Netpurchases were $120,000 at cost and $170,000 at retail. Net markups were $10,000; netmark downs were $7,000; and sales revenue was $147,000. Compute ending inventory at c..

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