E9-20B (L05) (Retail Inventory Method) The records of Thomes Boutique report the following data for the month of April.

Instructions

Compute the ending inventory by the conventional retail inventory method.

Sales revenue Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $96,000 176,000 4,000 3,000 Purchase returns (at sales price 6,000 60,000 5,600 Beginning inventory (at sales price) 93,000 $204,000 Pchases (at cost) 4,000 Purchases (at sales price) Purchase returns (at cost) 20,000 18,600 2,000 Beginning inventory (at cost)