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Required information [The following information applies to the questions displayed below.) Smith-Kline Company maintains inventory records at selling prices as well as at cost. For

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Required information [The following information applies to the questions displayed below.) Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2021, the records indicate the following data: ($ in 0005) Cost Retail Beginning inventory $ 74 $ 119 Purchases 665 1,000 Freight-in on purchases 24 Purchase returns 2 3 Net markups 5. Net markdowns 9 Net sales 910 2. Use the retail method to approximate cost of ending inventory valued under Conventional method. (Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55) Ending inventory (s in 000) Conventional

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