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Presented below is information related to Ricky Henderson Company. Cost Retail Beginning inventory $ 118,416 $ 290,500 Purchases 1,442,000 2,146,000 Markups 95,700 Markup cancellations 15,400
Presented below is information related to Ricky Henderson Company.
Cost | Retail | |||
Beginning inventory | $ 118,416 | $ 290,500 | ||
Purchases | 1,442,000 | 2,146,000 | ||
Markups | 95,700 | |||
Markup cancellations | 15,400 | |||
Markdowns | 43,800 | |||
Markdown cancellations | 7,100 | |||
Sales revenue | 2,280,000 |
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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