Problem 6-11A a1-a2, b Bramble Books uses the retail inventory method to estimate its monthly ending inventories. The following information is available for two of its departments at October 31, 2020. | | Hardcovers | | Paperbacks | | | Cost | | Retail | | Cost | | Retail | Beginning inventory | | $409,000 | | | $640,000 | | | $270,000 | | | $360,000 | | Purchases | | 2,170,250 | | | 3,305,000 | | | 1,162,000 | | | 1,540,000 | | Freight-in | | 29,000 | | | | | | 13,000 | | | | | Purchase discounts | | 44,000 | | | | | | 20,000 | | | | | Net sales | | | | | 3,150,000 | | | | | | 1,560,000 | | At December 31, Bramble Books takes a physical inventory at retail. The actual retail values of the inventories in each department are Hardcovers $744,000 and Paperbacks $335,000. | | | |