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Cullumber uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $402000 (S606000), purchases during
Cullumber uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $402000 (S606000), purchases during the current year at cost (retail) were $2295000 (53540000), freight-in on these purchases totaled S141000, sales during the current year totaled $3240000, and net markups (markdowns) were S84000 (S120000). What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to decimal places. S870000. S607926. $678381. S583770
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