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Barker Pet supply uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $796800 ($980700),
Barker Pet supply uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $796800 ($980700), purchases during the current year at cost (retail) were $3205800 (4158300), freight-in on these purchases totaled $191700, sales during the current year totaled $4056000, and net markups (MArkdowns) were $6000 ($288900). What is the ending inventory value at cost?
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