Dicer uses the conventional retail method to determine its ending inventory at cost. Assur the...

70.2K

Verified Solution

Question

Accounting

Dicer uses the conventional retail method to determine its ending inventory at cost. Assur the beginning inventory at cost (retail) were $390,000 ($594,000), purchases during the current year at cost (retail) were $2,055,000 ($3,300,000), freight-in on these purchases totaled $129,000sales during the current year totaled $3,000,000and net markups (markdowns) were $72,000 ($108,000)What is the ending inventory value at cost? $580,206. $567,138. $858,000. $556,842

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