ABC Inc. uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to a single department for the current month. Prepare a schedule computing estimate retail inventory using the conventional methods. Round numbers. (1 mark).

	Cost	Retail
Beginning Inventory	78,000	105,000
Net purchases	214,000	292,000
Net markups		14,000
Net markdown		3,700
Normal spoilage		2,300
Abnormal spoilage	3,400	5,500
Sales		310,000
Employees discount		11,200