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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

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 $

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