Peacock Shoe Store uses the retail inventory method for its two departments, Womens Shoes and Mens Shoes.

Peacock Shoe Store uses the retail inventory method for its two departments, Women’s Shoes and Men’s Shoes. The following information for each department is obtained.

Instructions
Compute the estimated cost of the ending inventory for each department under the retail inventorymethod.

Transcribed Image Text:

Women's Shoes Men's Shoes $45,000 136,300 185,000 60,000 185,000 Item Beginning inventory at cost Cost of goods purchased at cost Net sales Beginning inventory at retail Cost of goods purchased at retail 36,500 148,000 178,000 46,000 179,000