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Crane Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) was $381500 ( $582000

image text in transcribed Crane Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) was $381500 ( $582000 ), purchases during the current year at cost (retail) were $3168000($4953600), freight-in totaled $147500, sales during the current year totaled $4426000, and net markups were $402000. What is the company's ending inventory value at cost? (Round cost-to-retail ratio percentages to 1 decimal places, e.g. 52.7%=0.527.) $783173 $1511600 $941727 $1033619

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