CALCULATOR MESSAGE MY INSTRUCTOR Exercise 9-20 (Part Level Submission) Presented

Question

CALCULATOR MESSAGE MY INSTRUCTOR Exercise 9-20 (Part Level Submission) Presented below is information related to Oriole Company Cost $53,760 119,400 Retail Beginning inventory Purchases (net) Net markups Net markdowns Sales revenue $107,700 204,800 9,605 26,513 175,600 Your answer is correct Compute the ending inventory at retail. Ending inventory Click if you would like to Show Work for this question: 119992 Open Show Work SHOM/ ANSWER SHOW SOLUTION LINK TO TEXT Attem Your answer is correct. Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, eg·78.7496)

Explanation / Answer

Total Inventory valuation at retail and Cost Cost Retail Beginning Inventory 53760 107700 Add: Purchases 119400 204800 Add: markups 9605 Less: Markdown -26513 Total Goods available 173160 295592 % of Cost to Retail 58.58% Less: Sales 102867 175600 Ending Inventory 70293 119992 Inventory at retail: $ 119,992 Inventory at Cost: $ 70,293 Whichever is lower Inventory Valuation at cost: $ 70,293

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