(Retail Inventory Method) Presented below is information related to Mantle Company. Cost Retail Beginning...
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Accounting
(Retail Inventory Method) Presented below is information related to Mantle Company.
Cost Retail
Beginning Inventory $50,000 $ 70,000
Purchases 343,750 535,000
Markups 45,750
Markup Cancellations 3,750
Markdowns 30,750
Markdown Cancellation 1,250
Sales 550,000
Instructions
Compute the inventory by the conventional retail inventory method.
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