Question: Determine the ending inventory under the conventional retail method for the furniture department of Mayron Department Stores from the following data. (Round ratio of cost

Determine the ending inventory under the conventional retail method for the furniture department of Mayron Department Stores from the following data. (Round ratio of cost to selling price to 0 decimal places, e.g., 15%) Cost Retail Inventory, Jan. 1 $ 149,000 $ 283,500 Purchases 1,400,000 2,160,000 Freight-in 70,000 Markups, net 92,000 Markdowns, net 48,000 Sales revenue 2,175,000 Ending inventory $

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