Exercise 9-21

Presented below is information related to Riverbed Company.

		Cost		Retail
Beginning inventory		$318,504		$279,000
Purchases		1,363,000		2,117,000
Markups				93,200
Markup cancellations				16,400
Markdowns				38,300
Markdown cancellations				5,500
Sales revenue				2,158,000

Compute the inventory by the conventional retail inventory method.

Ending inventory using conventional retail inventory method $