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Presented below is information related to Splish Brothers, Inc. Cost Retail Beginning inventory $374,000 $660,000 Purchases 1,672,000 2,948,000 Freight on purchases 71,280 Markups 154,000 Markup
Presented below is information related to Splish Brothers, Inc.
Cost | Retail | |||
---|---|---|---|---|
Beginning inventory | $374,000 | $660,000 | ||
Purchases | 1,672,000 | 2,948,000 | ||
Freight on purchases | 71,280 | |||
Markups | 154,000 | |||
Markup cancellations | 123,200 | |||
Abnormal shortage | 13,200 | 22,880 | ||
Markdowns | 77,440 | |||
Markdown cancellations | 10,560 | |||
Employee discounts | 4,576 | |||
Sales revenue | 3,146,000 | |||
Sales returns | 88,000 | |||
Normal shortage | 15,400 | |||
Purchase returns | 19,360 | 36,080 |
Compute ending inventory by the conventional retail inventory method. (Round percentages for computational purposes to 1 decimal place, e.g. 0.4158 to 41.6% and final answer to 0 decimal places, e.g. 5,275.)
Ending inventory | $enter the ending inventory in dollars rounded to 0 decimal places |
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