05: Wilson Department Store uses the retail inventory method, on December 31, 2020, the following information relating to the inventory was gathered: Cost 26550 $ Details Inventory Jan.1, 2020 Sales Purchases Purchases discounts Net markups Net markdowns Sales discounts Freight in 262000 4200 3545 Retail 45000 $ 350000 395000 30000 10000 5000 Required: Compute the ending inventory value at December 31, 2020 using the retail invento method.

Q5: Wilson Department Store usesthe retail inventory method, on December 31,2020 , the following Required: Compute the ending inventory value at December 31,2020 using the retail invento method