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Question 16 Presented below is information related to Wildhorse Company. Cost Retail Beginning inventory $53,320 $73,000 Purchases 322,000 587,000 Markups 25,900 Markup cancellations 3,500 Markdowns
Question 16
Presented below is information related to Wildhorse Company.
| Cost | Retail | |||
|---|---|---|---|---|
| Beginning inventory | $53,320 | $73,000 | ||
| Purchases | 322,000 | 587,000 | ||
| Markups | 25,900 | |||
| Markup cancellations | 3,500 | |||
| Markdowns | 8,600 | |||
| Markdown cancellations | 1,300 | |||
| Sales revenue | 599,000 |
Compute the inventory by the conventional retail inventory method.
| Ending inventory using conventional retail inventory method | $ |
|
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