ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 183
13) Barker Pet supply uses the conventional retail method to
determine its ending inventory at cost. Assume the beginning
inventory at cost (retail) were $531,200 ($653,800), purchases during
the current year at cost (retail) were $2,137,200 ($2,772,200), freightin on these purchases totaled $127,800, sales during the current year
totaled $2,704,000, and net markups (markdowns) were $4,000
($192,600). What is the ending inventory value at cost?
14) Barker Pet supply uses the conventional retail method to
determine its ending inventory at cost. Assume the beginning
inventory at cost (retail) were $531,200 ($653,800), purchases during
the current year at cost (retail) were $2,137,200 ($2,772,200), freightin on these purchases totaled $127,800, sales during the current year
totaled $2,704,000, and net markups (markdowns) were $4,000
($192,600). What is the ending inventory value at cost?