Question.2572 - Homework-8 Book Inventory @ Retail and @ Cost (4 pts) Text Book Question: 4, 5, 6, 8,9, 11, 13, 14 Shortages and Overages(3 pts): Text Book Question: 19, 20, 21, 23, 26, 27 Additional (3 pts): 1. Using the following figures, determine closing book inventory. (Not all information given may be needed.) Opening inventory $ 62,980 Gross purchases $ 43,620 RTV $ 860 Markdowns 5,246 Employee discounts 784 Gross sales 49,318 Customer returns 1,918 2. Calculate July closing book Inventory at retail if: Opening book inventory is $972,000 Net sales are $630,000 Markdowns are 25% Receipts are $464,260 3. Determine Book Inventory @ Cost, given following informationCost Retail Opening inventory $34,890 $52,914 Net purchases 12,116 28,709 Freight 120 Net transfers out (use as reduction) 344 818 Gross sales 29,368 (http Customer returns s://canvas.cpp.edu/courses/53384/modules/items/2389742)2,134Submit Assignment (https://canvas.cpp.edu/courses/511/6/22, 7:11 AM Homework-8https://canvas.cpp.edu/courses/53384/assignments/546235 2/2 Choose a submission type Net markdowns 1,024 Employee discounts 362
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