LCM Template - $5,100 $ Purchases R A $2,100 $2,800 Purchases at retail $146,495 Purchase Returns $2,100 $2,800 Purchase Discounts Freight-in

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Given Sales Commission 15% NP % 40% Product QTY Unit Cost Unit Replacement Cost Unit Selling Price A 1000 10 12 16 B 800 15 11 18 C 600 3 2 8 D 200 7 4 6 E 600 14 12 13 Product QTY Unit Replacement Cost NRV NRV-NP Market Cost Lower Cost or Market A 1000 12 13.6 7.2 12 10 10 B 800 11 15.3 8.1 11 15 11 C 600 2 6.8 3.6 3.6 3 3 D 200 4 5.1 2.7 4 7 4 E 600 12 11.05 5.85 11.05 14 11.05 Product Original Cost Final Inventory Value Write Down A 10,000 10,000 0 B 12,000 8,800 -3,200 C 1,800 1,800 0 D 1,400 800 -600 E 8,400 6,630 -1,770 Total 33,600 28,030 -5,570
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GRAND DEPARTMENT STORE, INC. October, 2011 operations information: At Cost At Retail At Cost At Retail Beginning inventory at cost, 10/1/2011 $20,000 Beg. Inventory $20,000 $30,000 Beg. Inventory $20,000 $30,000 Beginning inventory at retail, 10/1/2011 $30,000 Purchases $100,151 $146,495 Purchases $100,151 $146,495 Purchases at cost $100,151 Freight In
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Unformatted text preview: $5,100 $- Purchases R+A $2,100 $2,800 Purchases at retail $146,495 Purchase Returns $2,100 $2,800 Purchase Discounts Freight-in $5,100 Markups $2,500 Freight In $5,100 $- Purchase returns at cost $2,100 Markup Cancellations $265 Markups $- $2,500 Purchase returns at retail $2,800 Net Markdowns $800 Markup Cancellations $- $265 Additional. markups $2,500 Normal Spoilage anf Breakage $4,500 Cost of Goods Available for Sale $123,151 $170,930 Markup cancel ations $265 Sales $135,730 Net Markdowns $800 Net markdowns $800 Normal spoilage and breakage $4,500 Sales $135,730 Sales $135,730 Ending Inventory $34,400 Cost/Retail Ratio 72.048% $24,784.38...
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This note was uploaded on 12/14/2011 for the course MGT 268 taught by Professor Paragkosalge during the Spring '08 term at Grand Valley State University.

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LCM Template - $5,100 $ Purchases R A $2,100 $2,800 Purchases at retail $146,495 Purchase Returns $2,100 $2,800 Purchase Discounts Freight-in

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