The Information Below Is Given for the Providence Book Company $\begin{array}{llcc} \text { Providence Book Company } & \\ \text {May 1 - May 31 } &\\\end{array}$

question 93

Short Answer

The information below is given for the Providence Book Company: $\begin{array}{llcc} \text { Providence Book Company } & \\ \text {May 1 - May 31 } &\\\end{array}$

$\begin{array}{lll} & \text { Cost } & \text { Retail } \\\hline \text { Beginning Inventory, May 1 } & \$ 165,000 & \$ 200,000 \\\text { Purchases - May } & \$ 550,000 & \$ 625,000 \\\text { Net Sales - May } & \$ 600,000 &\end{array}$
Using this information, calculate the following:
A)Goods available for sale at cost: _________
B)Goods available for sale at retail: _________
C)Cost ratio: (round to nearest tenth of a percent) _________
D)Ending inventory at retail: _________
E)Ending inventory at cost: _________

• A)Goods available for sale at cost: _________
• B)Goods available for sale at retail: _________
• C)Cost ratio: (round to nearest tenth of a percent) _________
• D)Ending inventory at retail: _________
• E)Ending inventory at cost: _________

---

Definitions:

Financial Reporting

Financial reporting involves the disclosure of financial results and related information to various stakeholders about a company's financial health and performance.

Merchandising Company

A business that purchases finished goods for resale to generate revenue, such as retailers.

Cost of Goods Sold

This is the direct costs attributable to the production of the goods sold by a company.

Direct Costs

Expenses that can be directly attributed to the production of specific goods or services, such as raw materials and labor.