1. A retailer has a beginning monthly inventory valued at 80,000 at retail and 52,500 at costs. net purchases during the month are 190,000 at retail and 115,000 at costs. transportation charges are 10,500. sales are 225,000. Markdowns and discounts equal 30,000. A physical inventory at the end of the month shows merchandise valued at 15,000 (at retail) on hand. Compute the following:
A Total merchandise available for sale-at cost and at retail
B cost complement
C Ending retail book value of inventory
D stock shortage
E adjusted ending retail book value
F Gross Profit
2. Waterway, Inc. has 1000 shares of 6%, $10 par value, cumulative preferred stock and 65000 shares of $1 par value common stock outstanding at December 31, 2018. What is the annual dividend on the preferred stock?
A. $6 per share
B. $600 in total
C. $0.06 per share
D. $6000 in total