Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. blue spruce inc had beginning inventory of $22,000

Blue Spruce inc had beginning inventory of $22,000 at cost and $28,800 at retail. Net...

90.2K

Verified Solution

Question

Accounting

image
Blue Spruce inc had beginning inventory of $22,000 at cost and $28,800 at retail. Net purchases were $157,256 at cost and $200,000 at retail. Net markups were $10,000, net markdowns were $6,000, and sales were $180,000. Calculate the ending inventory at cost using the retail method. (Round cost-to-retall rotio to 2 decimal ploces, es. 15.21% and the finol answer to 0 dedimol ploces, es. 5.275.) Ending inventory

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Mixture of Respiratory / Digestive System a) How is oxygen transported in the blood? b) What is...

Programming
1.2K views

Write an algorithm to input a number n, then calculate 13 +2 3 + 33 +...

Basic Math
1.2K views

5. Listed in the table below are the robbery and aggravated assault rates (occurrences per 100,000)...

Biology
1.2K views

Genomic imprinting is generally due to the addition of methyl (-CH3) groups to C nucleotides...

Geometry
1.2K views

Write the equation of the circle with its center at 6 1 and a radius...

Basic Math
1.2K views

r 8 4 0 Submit Answer 6 66 Points DETAILS LARPCALC11 10 7 074 Convert...

Statistics
1.2K views

18 0C 7 13 36 11 23 10 5 24 16 3 22 18 29...

Accounting
1.2K views

A Restaurant is open only for 25 days in a month. Expenses for the restaurant...

Accounting
1.2K views

I am opening a sole proprietorship bakery examine the best business organizational form for the...

Accounting
1.2K views

General Hospital is planning to add a new diagnostic machine which should improve its quality...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] Bunnell Corporation is a...

Accounting
1.2K views

On February 1, 2019, Smith Corporation issued 5-year bonds dated January 1, 2019, with a...