Company.CostRetailBeginning inventory$ 55,460$96,900Purchases (net)131,330199,500Net markups11,348Net markdowns26,087Sales revenue193,700Compute the ending inventory at retail.Ending inventoryCompute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, e.g. 78.74%)Cost-to-retail percentage(1)Excluding both markups and markdowns. %(2)Excluding markups but including markdowns. %(3)Excluding markdowns but including markups. %(4)Including both markdowns and markups. %Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.)Ending inventory$Compute cost of goods sold based on (d). (Round answer to 0 decimal places, e.g. 6,225.)Cost of goods sold$Compute gross margin based on (d). (Round answer to 0 decimal places, e.g. 6,225.)Gross margin$$

## Solution:

##
Looking for help with your homework?

Grab a 30% Discount and Get your paper done!

Place an Order