6-5A - 6-5A 1) Hacienda Co. Merchandise Inventory, June 1...

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Unformatted text preview: 6-5A 1) Hacienda Co. Merchandise Inventory, June 1 Purchases Merchandise available for sale Ratio of Cost to retial price: (2286000/3175000) = 72% Sales Less Sales Returns and allowances Net Sales Merchandise inventory, June 31, at retail Merchandise inventory, June 31, at estimated cost Cost $200,000.0 $2,086,000.0 $2,286,000.0 $30,000.0 2a) San Lucas Co. Merchandise Inventory, November 1 Purchases Merchandise available for sale Sales Less Sales returns and allowances Less estimated gross profit [(2730000)( .40)] Estimated cost of merchandise sold Estimated merchandise inventory, December 31 $2,815,000 $85,000 $1,092,000 2b) Estimated merchandise inventory, December 31 Physical inventory count, December 31 Estimated loss due to theft or damage, Nov 1– Dec 31 Retail $290,000.0 $2,885,000.0 $3,175,000.0 $2,780,000.0 $2,750,000.0 $425,000.0 $306,000.0 $225,000 $1,685,000 $1,910,000 $1,638,000 $272,000 $272,000 $269,250 $2,750 ...
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