Verizon LTE 1:59 PM * 55%- CS2 - Levi Musselman 2018.xlsx Accounting 3110 Case Study #2-Chapter 9B Problem THE WILDCAT COMPANY The Wildcat Company uses the retail method to estimate its ending inventory. Selected information about its year 2018 operations is as follows 9Beginning inventory cost, 1/1/2018 10 Beginning inventory retail value, 1/1/2018 11 2018 Purchases cost 12 2018 Purchases retail value 13 Incoming freight costs 14 Net markups 15 Net markdowns 330,000 320,000 1,293,000 2,480,000 27,000 200,000 480,000 32,000 25% 300,000 1,700,000 Shrinkage estimate 17 Employee discount 18 Employee sales (net of employee discount) 19 Customer sales 20 21 Required: 2 Estimate ending inventory and cost of goods sold using the CONVENTIONAL retail inventory method (see LO 9-4) 23 24 25 Chapter 9A Chapter 9A Chapter 9B - Data Chapter 9B Chapter 10+