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5. The following data concerning the conventional retail inventory method are taken from the financial records of Waleed Company. Cost Retail Beginning inventory $16.000 $

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5. The following data concerning the conventional retail inventory method are taken from the financial records of Waleed Company. Cost Retail Beginning inventory $16.000 $ 280,000 Purchases 896,000 1,280,000 Freight-in 24,000 Net markups I 80,000 Net markdowns 56,000 Sales 1,344,000 What is the ending inventory using the conventional method

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