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Presented below is information related to Culver Company. Cost Retail Beginning inventory $194,276 $276,000 Purchases 1,368,000 2,164,000 Markups 93,900 Markup cancellations 14,100 Markdowns 32,800 Markdown
Presented below is information related to Culver Company.
Cost | Retail | |||
Beginning inventory | $194,276 | $276,000 | ||
Purchases | 1,368,000 | 2,164,000 | ||
Markups | 93,900 | |||
Markup cancellations | 14,100 | |||
Markdowns | 32,800 | |||
Markdown cancellations | 5,000 | |||
Sales revenue | 2,239,000 |
Compute the 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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