Scribd Logo
Upload

Welcome to Scribd!

  • Retail Methods Formula

    Uploaded by

    Joefrey Pujadas Baluma
    22 views5 pages
    This document summarizes inventory information for a retail business. It shows beginning inventory, purchases, freight costs, markups, markdowns, goods available for sale, sales, and ending inventory at cost and retail. Key metrics like cost of goods sold and inventory ratios are also calculated using both conservative and average costing methods.

    Original Description:

    Original Title

    RETAIL METHODS FORMULA

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document summarizes inventory information for a retail business. It shows beginning inventory, purchases, freight costs, markups, markdowns, goods available for sale, sales, and ending inventory at cost and retail. Key metrics like cost of goods sold and inventory ratios are also calculated using both conservative and average costing methods.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    22 views5 pages

    Retail Methods Formula

    Uploaded by

    Joefrey Pujadas Baluma
    This document summarizes inventory information for a retail business. It shows beginning inventory, purchases, freight costs, markups, markdowns, goods available for sale, sales, and ending inventory at cost and retail. Key metrics like cost of goods sold and inventory ratios are also calculated using both conservative and average costing methods.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 5

    COST RETAIL

    Beginning Inventory 49000 70000


    Purchases 224000 320000
    Freight in 6000
    Purchases Return
    Purchase Allowances
    Purchase Discount
    Department transfer in
    Department transfer out
    Markup or Mark-on 20000
    Markup cancelation
    Goods available for sale- CONSERVATIVE 279,000 410,000
    Markdown 14000
    Markdown cancelation
    Goods available for sale- Average 279,000 396,000

    Sales 336000
    Employee discounts
    Normal
    Abnormal

    Ending inventory in retail 60,000


    Conservative ratio 0.6804878
    Conservative Cost 40,829
    Cost of Goods Sold 238,171

    0.7
    Average cost ratio 0.70454545
    Average cost 42,273
    Cost of Goods Sold 236,727

    Rounded average cost 42,000

    CLEAR
    COST RETAIL
    Purchases
    Freight in
    Purchases Return
    Purchase Allowances
    Purchase Discount
    Department transfer in
    Department transfer out
    Markup or Mark-on
    Markup cancelation
    Markdown
    Markdown cancelation
    FIFO RATIO SOURCE - -
    Beginning Inventory
    Goods available for sale- FIFO - -

    Sales
    Employee discounts
    Normal
    Abnormal

    Ending inventory in retail -


    FIFO cost ratio #DIV/0!
    FIFO COST #DIV/0!
    CLEAR

    Goods available for sale -


    Ending inventory at fifo cost #DIV/0!
    Cost of Goods Sold #DIV/0!
    CLEAR

    You might also like