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PharoahInc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $385500($586000), purchases during the
PharoahInc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $385500($586000), purchases during the current year at cost (retail) were $3248000($5033600), freight-in on these purchases totaled $151500, sales during the current year totaled $4506000, and net markups were $406000. What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to 0 decimal places.
$954309.
$1049451.
$1519600.
$794483.
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