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Sheridan Inc. had beginning inventory of $11,700 at cost and $18,200 at retail. Net purchases were $132,188 at cost and $183,700 at retail. Net markups
Sheridan Inc. had beginning inventory of $11,700 at cost and $18,200 at retail. Net purchases were $132,188 at cost and $183,700 at retail. Net markups were $9,700, net markdowns were $6,600, and sales revenue was $134,800. Compute ending inventory at cost using the conventional retail method. Ending inventory using the conventional retail method $
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