50.

The following data concerning the retail inventory method are taken from the financial records of Welch Company. Cost $ 196,000 896,000 24,000 Retail $ 280,000 1,280,000 Beginning inventory Purchases Freight-in Net markups Net markdowns Sales 80,000 56,000 1,344,000 The ending inventory at retail should be $168,000 $256,000. $240,000. $296,000