06-17_9e - 2,530,000 Merchandise available for sale Ratio...

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Exercise 6-17 Name: Section: Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to or below an incorrect entry in the gray outlined cells. Cost Retail Merchandise inventory, September 1 $220,000 $320,000 Purchases in September (net) 1,718,000
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Unformatted text preview: 2,530,000 Merchandise available for sale Ratio of cost to retail price: = Sales for September (net) 2,595,000 Merchandise inventory, September 30, at retail Multiply by ratio of cost to retail price: x Merchandise inventory, September 30, at estimated cost...
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