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Manila Bread Company uses the average cost retail method to estimate its ending inventories. The following data has been summarized for the year 2021: Cost

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Manila Bread Company uses the average cost retail method to estimate its ending inventories. The following data has been summarized for the year 2021: Cost $ 54, 205 326,000 Inventory, January 1 Purchases Net markups Net markdowns Net sales Retail $ 78,000 466,000 8,200 16,700 412,000 Required: Estimate the ending inventory as of December 31, 2021. Ending inventory

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