Question 5 of 5 -//1 The records of Flounder Menswear report the following data for...
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Question 5 of 5 -//1 The records of Flounder Menswear report the following data for the month of September: Sales $118,100 Purchases (at cost) $62,600 Sales returns 2,800 Purchases (at sales price) 121,000 Additional markups 10,800 Purchase returns (at cost) 3,200 Markup cancellations 2,400 Purchase returns (at sales price) 4,400 Markdowns 9,300 Reginning inventory (at cost) 40,478 Markdown cancellations 2,800 Beginning inventory (at sales price) 48,400 Freight on purchases 3,600 (a) Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, e.g. 5,275 .)
Ending inventory at retail -
Ending inventory at cost -
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