conventional retail method

woled abivong el PROBLEM 4 CONVENTIONAL RETAIL METHOD When you undertook the preparation of the financial statements for Telfer Company at January 31, 2018, the following data were available: ubor At Retail $ 98,500 35,000 63,000 20,000 10,000 294,000 335,000 5,500 10,000 At Cost Inventory, February 1, 2017 Markdowns $70,800 Markups Markdown cancellations Markup cancellations Purchases 219,500 Sales revenue Purchases retums and allowances Sales returns and allowances 4,300 Instructions: Compute the ending inventory at cost as of January 31, 2018, using the retail method which approximates lower of cost or market. Your solution should be in good form with amounts clearly labeled etscelo etew oundent p000.000