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The records of Ayayai Menswear report the following data for the month of September: Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight
The records of Ayayai Menswear report the following data for the month of September: Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases (a) Ending inventory, at retail $117,500 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) 2,800 Beginning inventory (at sales price) $ 2,600 10,600 1,600 9,300 3,600 $59,000 112,000 2,600 3,400 32,278 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to O decimal places, e.g. 5,275.) 48,000
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