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Brief Exercise 9-10 Cheyenne Inc. had beginning inventory of $11,300 at cost and $18,900 at retail. Net purchases were $114,568 at cost and $156,900 at
Brief Exercise 9-10 Cheyenne Inc. had beginning inventory of $11,300 at cost and $18,900 at retail. Net purchases were $114,568 at cost and $156,900 at retail. Net markups were $9,300, net markdowns were $6,700, and sales revenue was $155,300. Compute ending inventory at cost using the conventional retail method. (Round ratios for computational purposes to 0 decimal places, eg. 7896 and final answer to 0 decimal places, eg. 28,987.) Ending inventory using the conventional retail method Click if you would like to Show Work for this question: Open Show Work
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