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Sliva [168]
3 years ago
10

Crane Inc. had beginning inventory of $12,000 at cost and $19,600 at retail. Net purchases were $105,056 at cost and $159,600 at

retail. Net markups were $9,600, net markdowns were $6,500, and sales revenue was $160,600. Compute ending inventory at cost using the conventional retail method.
Business
1 answer:
zimovet [89]3 years ago
7 0

Answer:

Crane Inc.

The ending inventory at cost using the conventional retail method is:

= $23,426.

Explanation:

a) Data and Calculations:

                                        Cost          Retail            

Beginning inventory    $12,000    $19,600

Net purchases             105,056    159,600

Net markups                                     9,600

Goods available        $126,656  $188,800

Ratio of cost to retail price = 67% ($126,656/$188,800)

Cost of goods sold     107,602 ($160,600 * 67%)

Ending inventory       $23,426

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An amount of $2,500 is deposited in a savings account that earns 2.5% interest. Which is the future value
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During a certain year, the nominal interest rate was 7 percent, the real interest rate was 4 percent, and the CPI was 198.3 at t
Dima020 [189]

Answer:

CPI at the beginning of the year = 192.52

Explanation:

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solution

we know that according to fisher equation

1 + r = \frac{1+n}{1+i}    ....................1

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