Remaining Time: 44 minutes, 38 seconds. Question Completion Status: 1 2 3 5 6 7 8 9 10 11 Problem 1: Answer the following question and show all calculations (5 Marks): Presented below is information related to XYZ, Inc. Cost $ 425,000 1,900,000 81,000 Retail $ 750,000 3,350,000 Beginning inventory Purchases Freight on purchases Markups Markup cancellations Abnormal shortage Markdowns Markdown cancellations Employee discounts Sales revenue Sales returns Normal shortage Purchase returns 15,000 175,000 140,000 26,000 88,000 12,000 5,200 3,575,000 100,000 17,500 41,000 22,000 Instructions Compute ending inventory by the conventional retail inventory method. Round percentages to three decimal places (for example, round 0.4158 to 41.6%) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). y S Paragraph Arial 10pt I % a Q V V v x? X2 + RRC TI 21 HE E | 0 **
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