Q12)

The records of Indigos Boutique report the following data for the month of April.

Sales revenue		$101,000		Purchases (at cost)		$45,800
Sales returns		1,800		Purchases (at sales price)		91,400
Markups		11,000		Purchase returns (at cost)		1,800
Markup cancellations		1,500		Purchase returns (at sales price)		2,700
Markdowns		9,900		Beginning inventory (at cost)		31,280
Markdown cancellations		2,600		Beginning inventory (at sales price)		50,800
Freight on purchases		2,200

Compute the ending 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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