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Cost Retail Beginning inventory $ 188000 $272000 Purchases 888000 1200000 Freight-in Net markups Net markdowns Sales 23200 79200 55200 1264000 If the ending inventory is
Cost Retail Beginning inventory $ 188000 $272000 Purchases 888000 1200000 Freight-in Net markups Net markdowns Sales 23200 79200 55200 1264000 If the ending inventory is to be valued at approximately the lower of cost or market, the calculation of the cost-to-retail ratio should be based on goods available for sale at (1) cost and (2) retail, respectively of O $1076000 and $1472000. O $1099200 and $1551200. O $1099200 and $1496000. O $1099200 and $1472000. Cost Retail $183000 $ 284000 Beginning inventory Purchases Freight-in Net markups Net markdowns Sales 890000 1230000 23600 1 The ending inventory at retail should be O $289400. O $258200. O $234600. O $313000. 79400 54800 1304000
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