Given the following information, what is the cost-to-retail ratio? Beginning inventory at cost $20,000 Beginning inventory at retail 35,000 Purchases at cost 100,000 Purchases at retail 168,000 Sales 160,000   169%. 75%. 59%. 41%.

Q: If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on…

A: Inventory refers to materials such as raw materials, finished products, and in-process goods that…

Q: The following information is given about ZEE Company: Beginning inventory $120,000 Purchases 450,000…

A: As per the gross profit method, estimated inventory can be calculated by deducting the cost of goods…

Q: From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent…

A:

Q: ABC Co. has the following information: Inventory, beg. 80,000 Inventory, end. 128,000 Purchases…

A: Cost of sales refers to the total amount incurred by an entity for producing the product and selling…

Q: The following information is available: Cost of goods sold $1,000,000 Sales $500,000 Sales…

A: Ending Inventory = Cost of Goods Sold + Gross profit - Net Sales   Note : Net Sales = Sales - Sales…

Q: Presented below is information related to Sheffield Company.     Cost   Retail Beginning…

A: Ending inventory is the amount of closing inventory remained unsold at the end of accounting period.

Q: Given the following account information, calculate net income: Sales          500,000   Beginning…

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Q: Hope Inc. has the following information: Beginning inventory P 56,000 Purchases 148,000…

A: The question is based on the concept of Cost Accounting. Cost of sales = Beginning inventory +…

Q: Glamor Company provided the following data: Beginning inventory Cost 500,000 770,000 Selling price…

A: Inventory valuation method include: FIFO Method LIFO Method Average cost method FIFO Method - As…

Q: Allison Co. has a beginning inventory costing $90,000 and an ending inventory costing $120,000.…

A: Inventory Turnover Ratio = (Cost of merchandise Sold / Average Inventory)

Q: Drake Corporation had the following amounts, all at retail: Beginning inventory $  3,600…

A: Ending inventory is a common financial metric measuring the final value of goods still available for…

Q: Carmela Company used the conservative retail inventory method. The following information relating to…

A: Cost to Retail Inventory In the cost to retail inventory method while calculating the ending…

Q: Bouquet Company used the conventional retail inventory method to account for inventory.     Cost…

A: Cost of Sales: The direct costs associated with the manufacturing of goods/services sold to your…

Q: From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent…

A: cost ratio = cost of goods availabe for sale retail value of good available

Q: Based upon the following data, estimate the cost of ending inventory using the gross profit method.…

A: Ending inventory = Merchandise available for sale - Cost of Merchandise sold

Q: If beginning inventory is $40,000, purchases are $215,000, and ending inventory is $35,000, what is…

A: Cost of goods sold (COGS) refers to the direct costs of producing the goods sold by a company. This…

Q: What is the cost of sales?    Sales - £120,000, Opening Inventory £25,000, Purchases, £85,000,…

A: Cost of sales: The actual cost of direct expenses that were spent for the operations of business is…

Q: Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400…

A: Cost to retail ratio: Under the retail inventory method, closing inventory is valued using the cost…

Q: he following information was developed for Oriole Department Store:     At Cost   At Retail…

A:

Q: Calculate inventory turnover at cost (to nearest tenth):   Ending inventory $35,000   Beginning…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory  = (Beginning…

Q: Blue Company has the following data for the year: $140,000 Beginning inventory Net sales revenue…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is…

Q: Crosby Department Store estimates inventory by using the retail inventory method. The following…

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Q: Ending Inventory at Cost 739,160 3,930,000 Goods Available for Sale at retail Sales Discount Net…

A: Answer) Calculation of Net Sales Net Sales = Gross Sales – Sales Discount Net Sales = 2,843,000 –…

Q: Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data…

A: Cost to retail percentage is calculated by dividing the cost of goods available for sale by the…

Q: Presented below is information related to Sheffield Company.     Cost   Retail Beginning…

A: Sheffield Company : S.no   Cost ($) Retail ($) 1 Beginning Inventory 374,710 283,000 2…

Q: Presented below is information related to Kuchinsky Company. Cost Retail Beginning inventory 280,000…

A: In conventional retail method, the inventory cost and retail prices have a relationship. It is…

Q: SMCC Retail Corp had the following info: Beg inventory @ cost = $400,000, @ retail =$790,000 Net…

A: In the given question, the ending inventory will be determined using the retail inventory method.…

Q: Based on the following data, estimate the cost of the ending inventory: Sales $9,250,000 Estimated…

A: Cost of goods sold = Sales - Gross profit = $9,250,000 - $9,250,000*36% = $5,920,000

Q: Presented below is information related to Bobby Engram Company.   00Cost00 0 Retail0…

A:

Q: If firm’s beginning inventory is $70,000, purchases are $320,000, and the cost of good sold is…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is also…

Q: Presented below is information related to Stellar Company. Cost Retail Beginning inventory $53,940…

A: Formula: Cost to retail percentage = ( Total cost / Retail value ) x 100

Q: Assume that gross profit averages 40% for RAMCO.  If sales are $1,600,000 and sales returns are…

A: Here, We need to calculate the estimated Cost of Goods sold using average Gross profit %. It can be…

Q: Please provide the missing items: 1. Sales =? Sales return and allowances = 12,300 Net Sales =?…

A: Net sales is the sales which has been earned and sold by the company by way of selling the products…

Q: Presented below is information related to Stellar Company. Cost Retail Beginning inventory $53,940…

A: Ending inventory at retail = Beginning Inventory + Purchases + Net markups - Net Markdowns - Sales…

Q: A retailer’s total sales are $1,000,000 and the gross margin percentage is 60%. Thebeginning and…

A: Financial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability,…

Q: sing the gross profit method with the following cost data, estimate the cost of ending inventory.…

A: Ending inventory is the value of inventory remaining unsold at the end of the period.  The inventory…

Q: Boyne Inc. had beginning inventory of $24,000 at cost and $20,000 at retail. Net purchases were…

A: Formulas: Cost to retail ratio=Balance at costBalance at retail

Q: Cost of Goods Sold is 60% of Sales, Purchases is P20,000, Inventory ending is P5,000 higher than…

A: The cost of goods sold includes the total cost of goods that are sold during the period.  Cost of…

Q: If net sales are $300,000, cost of goods available for sale is $280,000, and gross profit…

A: Definition: Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a…

Q: The ABC Boutique had the following information at June 30, 20X1:     Purchases, P180,000…

A: Inventory: The inventory is an asset to the business. The asset is a benefit or resource that has a…

Q: relates to CEE Company: (Refer to image). Assuming CEE Company used the conventional retail…

A: The value of goods still available for sale and held by a company at the end of an accounting period…

Q: Use the following to answer the questions Net Sales $750,000 Gross profit $310,000 Beginning…

A: Gross profit = Net sales - cost of goods sold Operating income = Gross profit - Operating expense…

Q: If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on…

A: Inventory accounting is the method of accounting that deals with the valuation and reporting of…

Q: Hoover Co. uses the retail inventory method. The following information is available for the current…

A: What is meant by Cost to retail ratio? When total cost of goods sold is divided by the retail value…

Q: Based on the following data, estimate the cost of the ending merchandise inventory: Sales $1,450,000…

A: Ending inventory is value of inventory at the end of the period. It is calculated by adding…

Q: Consider the following information for costing purposes: Sales P80,000; Opening Inventory P10,000;…

A: Cost of goods sold in the business means total cost of goods that are being sold to the ultimate…

Q: Webster Company uses the average retail method of inventory valuation. Following are the information…

A: Cost to retail ratio = P143000/ P300000) * 100 = 47.6667%