OHN, Inc. uses the FIFO aproach of the Retail Inventory Method to estimate ending inventory. Their beginning inventory at cost (retail) was $1,603,000 ($2,501,000), purchases were $12,311,000 ($24,221,000) and freight in was $144,000. They also reported net markups of $2,437,000, net markdowns of $3,350,000, and net sales of $21,753,000. If only $961,800 of inventory is left at the end of the period, how much was stolen? (A 21)

$4,056,000

$3,094,200

$2,167,388

$1,205,588

(5 points) OHN, Inc. uses the FIFO aproach of the Retail Inventory Method to estimate ending inventory. Their beginning inventory at cost (retail) was $1,603,000($2,501,000), purchases were $12,311,000($24,221,000) and freight in was $144,000. They also reported net markups of $2,437,000, net markdowns of $3,350,000, and net sales of $21,753,000. If only $961,800 of inventory is left at the end of the period, how much was stolen? (A 21) $4,056,000 $3,094,200 $2,167,388 $1,205,588