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Boyne Inc. had beginning inventory of $22000 at cost and $31200 at retail. Net purchases were $159350at cost and $205000at retail. Net markups were $11600
Boyne Inc. had beginning inventory of $22000 at cost and $31200 at retail. Net purchases were $159350at cost and $205000at retail. Net markups were $11600 net markdowns were $6000 and sales revenue was $176000Compute ending inventory at cost using the conventional retail method. (Round ratios for computational purposes to 2 decimal places, e.g. 78.22. and final answer to 0 decimal places, e.g. 28,987.)
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