Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2024, the records indicate the following data: Beginning inventory Purchases Freight-in on purchases Purchase returns Net markups Net markdowns Net sales Average cost Ending inventory ($ in 000s) $ ($ in thousands) Cost $81 138.92 672 31 2 Retail $126 1,007 Required: 1. Use the retail method to approximate cost of ending inventory valued under average cost method. Note: Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55. 3597 1- 917

Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2024 , the records indicate the following data: Required: 1. Use the retail method to approximate cost of ending inventory valued under average cost method. Note: Enter your answer in thousands including 2 decimal places, i.e. 12,550 would be 12.55