Adams Corporation uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of September 2016: Cost Retail Beginning inventory $21,800 $38,200 Net purchases 10,900? Net markups 8,000 Net markdowns 2,000 Net sales ?
The company used the average cost flow method and estimated inventory at the end of September to be $17,494.50. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50%.
Required: Compute net purchases at retail and net sales for the month of September.
Answers: 3
Other questions on the subject: Business
Business, 22.06.2019 16:00, heavenwagner
In microeconomics, the point at which supply and demand meet is called the blank price
Answers: 3
Business, 22.06.2019 20:40, duhfiywge8885
Consider an economy where the government's budget is initially balanced. the production function, consumption function and investment function can be represented as follows y equals k to the power of alpha l to the power of 1 minus alpha end exponent c equals c subscript 0 plus b left parenthesis y minus t right parenthesis i equals i subscript 0 minus d r suppose that taxes increase. what happens to the equilibrium level of output?
Answers: 1
Do you know the correct answer?
Adams Corporation uses a periodic inventory system and the retail inventory method to estimate endin...
Questions in other subjects:
Mathematics, 12.03.2021 05:20
Biology, 12.03.2021 05:20
English, 12.03.2021 05:20
Social Studies, 12.03.2021 05:20
Mathematics, 12.03.2021 05:20
