Alquist Company uses the retail method to estimate its ending inventory. Selected information about its year 2021 operations is as follows: January 1, 2021, beginning inventory had a cost of $180,000 and a retail value of $230,000. Purchases during 2021 cost $1,802,000 with an original retail value of $2,695,000. Freight costs were $18,000 for incoming merchandise. Net additional markups were $200,000 and net markdowns were $295,000. Based on prior experience, shrinkage due to shoplifting was estimated to be $23,000 of retail value. Merchandise is sold to employees at a 20% of selling price discount. Employee sales are recorded in a separate account at the net selling price. The balance in this account at the end of 2021 is $330,000. Sales to customers totaled $2,100,000 for the year. Required: 1. Estimate ending inventory and cost of goods sold using the conventional retail method.

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times