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Oriole Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) was $396500 ($597000),
Oriole Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) was $396500 ($597000), purchases during the current year at cost (retail) were $3468000 ($5253600), freight-in totaled $162500, sales during the current year totaled $4726000, and net markups were $417000. What is the company's ending inventory value at cost? (Round cost-to-retail ratio percentages to 1 decimal places, e.g. 52.7% -0.527.) $827605 $1541600 $1095736 $991249
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