Problem 9-9 need to find the ending inventory using the conventional retail inventory method ...
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Accounting
Problem 9-9 need to find the ending inventory using the conventional retail inventory method
Presented below is information related to Pearl Inc Cost Retail Inventory, 12/31/17 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) $254,700 1,002,796 59,600 17,900 $397,600 1,454,100 80,100 1,423,100 95,600 119,500 40,500 44,300 20,200 41,400 8,000 4,200 Assuming that Pearl Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2018. (Round ratios for computational purposes to O decimal places, e.g 78% and final answer to 0 decimal places, eg. 28,987.) Ending inventory using the conventional retail inventory method
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