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Presented below is information related to Stellar Company. Cost Retail Beginning inventory $380,418 $282,000 Purchases 1,353,000 2,150,000 Markups 96,700 Markup cancellations 16,500 Markdowns 33,200 Markdown
Presented below is information related to Stellar Company.
Cost | Retail | |||
---|---|---|---|---|
Beginning inventory | $380,418 | $282,000 | ||
Purchases | 1,353,000 | 2,150,000 | ||
Markups | 96,700 | |||
Markup cancellations | 16,500 | |||
Markdowns | 33,200 | |||
Markdown cancellations | 4,600 | |||
Sales revenue | 2,206,000 |
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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