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Swifty Company began operations on January 1, 2019, adopting the conventional retail inventory system. None of the company's merchandise was marked down in 2019 and, because there was no beginning inventory, its ending inventory for 2019 of $37.900 would have been the same under either the conventional retail system or the LIFO retail system On December 31, 2020, the store management considers adopting the LIFO retail system and desires to know how the December 31, 2020, inventory would appear under both systems. All pertinent data regarding purchases, sales, markups, and marktowns are shown below. There has been no change in the price level. Cost Retail Inventory, Jan. 1.2020 $37.900 $61.000 Markdowns (net) 12.900 Markups (net) 21.900 Purchases (net) 133,000 176,300 Sales (net) 167.100 Determine the cost of the 2020 ending inventory under both (a) the conventional retail method and (b) the LIFO retail method. (Round ratios for computational purposes to 2 decimal place, 63.78.72% and final answers to decimal places, eg, 28,987.) $ (a) Ending inventory using conventional retail method $ (b) Ending inventory LIFO retail method 10A Presented below is information related to Pina Company Cost Retail Beginning inventory $148.740 $285,000 Purchases 1,359,000 2,148.000 Markups 96.200 Markup cancellations 16,300 Markdowns 31,800 Markdown cancellations 4,700 Sales revenue 2,209,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to decimal places, s. 78% and final answer to decimal places, eg 28,987) Ending inventory using conventional retail inventory method $ s.com/courses/47283/assignments/5272970?module_item_id:16225472 View Policies Current Attempt in Progress Nash Company follows the practice of pricing its inventory at the lower-of-cost-or market, on an individual item basis. Cost per Item No. Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity Unit $4.59 $0.36 $1.28 1320 1,300 $3.26 $3.06 0.51 0.51 3.57 1333 1,000 2.75 235 0.41 1.02 1426 5.10 4.59 900 3.77 0.26 0.92 3.26 1437 1.100 3.67 3.16 0.82 0.61 3.32 204 2.30 1510 800 0.41 0.51 3.88 600 3.06 2.75 1522 0.77 0.51 2.55 163 1.84 1573 3.100 0.51 1.02 6.12 5.30 4.79 1626 1.100 From the information above, determine the amount of Nash Company inventory The amount of Nash Company's inventory $ TO SAM View Policies Current Attempt in Progress The records of Sweet's Boutique report the following data for the month of April. Sales revenue $100,000 Purchases (at cost) $44,600 2.000 Sales returns 87.600 Purchases (at sales price) Markups 10.900 2.000 Purchase returns (at cost) 2.900 Markup cancellations 1.500 Purchase returns (at sales price) Markdowns 8.500 29200 Beginning inventory (at cost) 48,400 Markdown cancellations 2.700 Beginning inventory lat sales price) 2.300 Freight on purchases Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to decimal places eg. 78% and final answer to decimal places, c3.28,987.) Ending inventory using conventional retail inventory method 5 Swifty Company began operations on January 1, 2019, adopting the conventional retail inventory system. None of the company's merchandise was marked down in 2019 and, because there was no beginning inventory, its ending inventory for 2019 of $37.900 would have been the same under either the conventional retail system or the LIFO retail system On December 31, 2020, the store management considers adopting the LIFO retail system and desires to know how the December 31, 2020, inventory would appear under both systems. All pertinent data regarding purchases, sales, markups, and marktowns are shown below. There has been no change in the price level. Cost Retail Inventory, Jan. 1.2020 $37.900 $61.000 Markdowns (net) 12.900 Markups (net) 21.900 Purchases (net) 133,000 176,300 Sales (net) 167.100 Determine the cost of the 2020 ending inventory under both (a) the conventional retail method and (b) the LIFO retail method. (Round ratios for computational purposes to 2 decimal place, 63.78.72% and final answers to decimal places, eg, 28,987.) $ (a) Ending inventory using conventional retail method $ (b) Ending inventory LIFO retail method 10A Presented below is information related to Pina Company Cost Retail Beginning inventory $148.740 $285,000 Purchases 1,359,000 2,148.000 Markups 96.200 Markup cancellations 16,300 Markdowns 31,800 Markdown cancellations 4,700 Sales revenue 2,209,000 Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to decimal places, s. 78% and final answer to decimal places, eg 28,987) Ending inventory using conventional retail inventory method $ s.com/courses/47283/assignments/5272970?module_item_id:16225472 View Policies Current Attempt in Progress Nash Company follows the practice of pricing its inventory at the lower-of-cost-or market, on an individual item basis. Cost per Item No. Cost to Replace Estimated Selling Price Cost of Completion and Disposal Normal Profit Quantity Unit $4.59 $0.36 $1.28 1320 1,300 $3.26 $3.06 0.51 0.51 3.57 1333 1,000 2.75 235 0.41 1.02 1426 5.10 4.59 900 3.77 0.26 0.92 3.26 1437 1.100 3.67 3.16 0.82 0.61 3.32 204 2.30 1510 800 0.41 0.51 3.88 600 3.06 2.75 1522 0.77 0.51 2.55 163 1.84 1573 3.100 0.51 1.02 6.12 5.30 4.79 1626 1.100 From the information above, determine the amount of Nash Company inventory The amount of Nash Company's inventory $ TO SAM View Policies Current Attempt in Progress The records of Sweet's Boutique report the following data for the month of April. Sales revenue $100,000 Purchases (at cost) $44,600 2.000 Sales returns 87.600 Purchases (at sales price) Markups 10.900 2.000 Purchase returns (at cost) 2.900 Markup cancellations 1.500 Purchase returns (at sales price) Markdowns 8.500 29200 Beginning inventory (at cost) 48,400 Markdown cancellations 2.700 Beginning inventory lat sales price) 2.300 Freight on purchases Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to decimal places eg. 78% and final answer to decimal places, c3.28,987.) Ending inventory using conventional retail inventory method 5

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