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Presented below is information related to Grouper Company. Cost Retail Beginning inventory $379,557 $275,000 Purchases 1,356,000 2,161,000 Markups 94,700 Markup cancellations 15,400 Markdowns 36,700 Markdown
Presented below is information related to Grouper Company.
Cost | Retail | |||
---|---|---|---|---|
Beginning inventory | $379,557 | $275,000 | ||
Purchases | 1,356,000 | 2,161,000 | ||
Markups | 94,700 | |||
Markup cancellations | 15,400 | |||
Markdowns | 36,700 | |||
Markdown cancellations | 5,200 | |||
Sales revenue | 2,170,000 |
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 | $enter the dollar amount of the ending inventory using conventional retail inventory method |
$
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