The records of Stellar's Boutique report the following data for the month of April. Sales revenue $100,100 Purchases (at cost) $47,400 Sales returns 1,900 Purchases (at sales price) 95,300 Markups 9,500 Purchase returns (at cost) 1,900 Markup cancellations 1,500 Purchase returns (at sales price) 2,900 Markdowns 9,800 Beginning inventory (at cost) 37,344

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Chapter18: Accounting Periods And Methods
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The records of Stellar's Boutique report the following data for the month of April.
Sales revenue
$100,100
Purchases (at cost)
$47,400
Sales returns
1,900
Purchases (at sales price)
95,300
Markups
9,500
Purchase returns (at cost)
1,900
Markup cancellations
1,500
Purchase returns (at sales price)
2,900
Markdowns
9,800
Beginning inventory (at cost)
37,344
Markdown cancellations
2,800
Beginning inventory (at sales price)
48,800
Freight on purchases
2,200
Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method
+A
$
45000
Transcribed Image Text:The records of Stellar's Boutique report the following data for the month of April. Sales revenue $100,100 Purchases (at cost) $47,400 Sales returns 1,900 Purchases (at sales price) 95,300 Markups 9,500 Purchase returns (at cost) 1,900 Markup cancellations 1,500 Purchase returns (at sales price) 2,900 Markdowns 9,800 Beginning inventory (at cost) 37,344 Markdown cancellations 2,800 Beginning inventory (at sales price) 48,800 Freight on purchases 2,200 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.) Ending inventory using conventional retail inventory method +A $ 45000
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