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Accounting

Presented below is information related to Greene Company.

Cost Retail
Beginning Inventory $50,000 $70,000
Purchases 343,750 535,000
Markups 23,750
Markup cancellations 3,750
Markdowns 8,750
Markdown cancellations 1,250
Sales 550,000

Instructions

Compute the inventory by the conventional retail inventory method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9433362

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