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Presented below is information related to Sage Inc. Cost Retail Inventory, 12/31/20 $253,300 $394,400 Purchases 927,853 1,482,100 Purchase returns 59,900 79,400 Purchase discounts 18,300 Gross
Presented below is information related to Sage Inc. Cost Retail Inventory, 12/31/20 $253,300 $394,400 Purchases 927,853 1,482,100 Purchase returns 59,900 79,400 Purchase discounts 18,300 Gross sales revenue 1,405,900 Sales returns 96,100 Markups 119,800 Markup cancellations 39,600 Markdowns 44,600 Markdown cancellations 19,700 Freight-in 42,200 Employee discounts granted 8,100 Loss from breakage (normal) 4,200 Assuming that Sage Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (Round ratios for computational purposes to 0 decimal places, eg 78% and final answer to O decimal places, e.g. 28,987.) Ending inventory using the conventional retail inventory method $
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