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Exercise 9-22 The records of Swiftys Boutique report the following data for the month of April. Sales revenue $108,600 Purchases (at cost) $49,700 Sales returns

Exercise 9-22

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

Sales revenue $108,600 Purchases (at cost) $49,700
Sales returns 1,900 Purchases (at sales price) 92,100
Markups 9,200 Purchase returns (at cost) 1,900
Markup cancellations 1,300 Purchase returns (at sales price) 2,800
Markdowns 8,300 Beginning inventory (at cost) 35,220
Markdown cancellations 2,600 Beginning inventory (at sales price) 45,000
Freight on purchases 2,300

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.)

Ending inventory using conventional retail inventory method $

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