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5. Walmart Company uses Retail Inventory method and provided the following information: Cost Retail $40,000 $ 80,000 Beginning Inventory Purchases $ 300,000 $900,000 Mark-up $40,000
5. Walmart Company uses Retail Inventory method and provided the following information: Cost Retail $40,000 $ 80,000 Beginning Inventory Purchases $ 300,000 $900,000 Mark-up $40,000 Mark-down _{$20,000) $450,000 Sales Determine the cost of ending inventory under each of the following assumptions: a) Retail Weighted Average Cost method b) Retail Lower of cost or net realizable value (LCM) or conventional method c) Retail Lifo Method
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