The records of Hot’s Department Store report the following data for the month of January: Beginning inventory at cost P 440,000 Beginning inventory at sales price 800,000 Purchases at cost 4,500,000 Initial markup on purchases 2,900,000 Purchase returns at cost 240,000 Purchase returns at sales price 350,000 Freight on purchases 100,000 Additional markup 250,000 Markup cancellations 100,000 Markdown 600,000 Markdown cancellations 100,000 Net sales 6,500,000 Sales allowance 100,000 Sales returns 500,000 Employee discounts 200,000 Theft and other losses 100,000 Using the average retail inventory method, Hot’s ending inventory at cost is

The records of Hot’s Department Store report the following data for the month of January: Beginning inventory at cost P 440,000 Beginning inventory at sales price 800,000 Purchases at cost 4,500,000...

The records of Hot’s Department Store report the following data for the month of January:

Beginning inventory at cost	P 440,000
Beginning inventory at sales price	800,000
Purchases at cost	4,500,000
Initial markup on purchases	2,900,000
Purchase returns at cost	240,000
Purchase returns at sales price	350,000
Freight on purchases	100,000
Additional markup	250,000
Markup cancellations	100,000
Markdown	600,000
Markdown cancellations	100,000

Using the average retail inventory method, Hot’s ending inventory at cost is

Jun 11, 2022