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The records of Weissnat Stores included the following data: . Inventory, May 1, at retail, $15,300; at cost, $11,600 Purchases during May, at retail,
The records of Weissnat Stores included the following data: . Inventory, May 1, at retail, $15,300; at cost, $11,600 Purchases during May, at retail, $42,900; at cost, $30,100 Freight-in, $1,700 Additional markups, $4,300; markup cancellations, $480; net markdowns, $1,900 Sales during May, $49,000 What is the ending inventory at retail? $ What is the estimated inventory on May 31 on a LIFO basis (assuming stable prices)? $
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