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Cullumber Co. uses the conventional retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $ 319000 $495000 Purchases
Cullumber Co. uses the conventional retail inventory method. The following information is available for the current year. Cost Retail
Beginning inventory $ 319000 $495000
Purchases 1070000 1750000
Freight-in 22500
Employee discounts 7800
Net markups 56000
Net markdowns 79000
Sales revenue 1590000
The ending inventory at retail should be
$640300.
$624200.
$669700.
$703200.
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