Exercise 9-22

The records of Montys Boutique report the following data for the month of April.

Sales revenue		$107,900		Purchases (at cost)		$51,200
Sales returns		2,100		Purchases (at sales price)		89,300
Markups		10,900		Purchase returns (at cost)		2,100
Markup cancellations		1,600		Purchase returns (at sales price)		3,200
Markdowns		8,700		Beginning inventory (at cost)		33,024
Markdown cancellations		2,900		Beginning inventory (at sales price)		48,200
Freight on purchases		2,600

Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)