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Sav [38]
4 years ago
15

Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is

shown below:
Cost Retail
Beginning inventory $ 49,000 $ 66,000
Net purchases 157,000 221,000
Net markups 25,000
Net markdowns 38,000
Net sales 223,000

The conventional cost-to-retail percentage (rounded) is:

a. 83.1%

b. 66.0%

c. 71.8%

d. 75.2%
Business
1 answer:
ryzh [129]4 years ago
7 0

Answer:

Option (b) is correct.

Explanation:

Given that,

Under cost:

Beginning inventory = $49,000

Net purchases = 157,000

Total value:

= Beginning inventory + Net purchases

= $49,000 + 157,000

= $206,000

Under Retail:

Beginning inventory = $66,000

Net purchases = 221,000

Net markups = 25,000

Net markdowns = 38,000

Net sales = 223,000

Total value:

= Beginning inventory + Net purchases + Net markups

= $66,000 + $221,000 + $25,000

= $312,000

Cost to retail percentage:

= (Total value under cost ÷ Total value under retail) × 100

= ($206,000 ÷ $312,000) × 100

= 0.66 × 100

= 66%

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Answer:

b) Building support and commitment

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Answer:

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3 years ago
40. If you could live anywhere, where would it be?
ozzi

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3 years ago
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Answer:

relevant cost to make are $9.00

Explanation:

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