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Staples uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below: Cost Retail Beginning inventory $
Staples uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:
| Cost | Retail | |||||
| Beginning inventory | $ | 114,000 | $ | 193,000 | ||
| Net purchases | 406,000 | 707,000 | ||||
| Net markups | 45,000 | |||||
| Net markdowns | 23,000 | |||||
| Net sales | 687,000 | |||||
To the nearest thousand, estimated ending inventory using the conventional retail method is:
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