what is the ending inventory at cost?

9-49

9-51

Special Items COST s 1,000 Beg. Inventory Purchases 423,000 Freight in 0100 Current year additions (10,000) Ending inventory reta. LO 6 Retail Inventory Method Retail Inventory Method Evaluation of Retail Inventory Method Used for the following reasons Cost to Retail % RETAIL 423,000 (E,000) To permit the computation of net income without a physical count of inventory Control measure in determining inventory shortages Regulating quantities of merchandise on hand 1) Freight in Purc hase retuns 16.00 (5,600) Markups, net 2) 3) Current year additions Goods available for sale 33s000 / 500,000 . 67.00% Mark Normal spoilage Sales , net (10,000) (399,000 Ending inventory at retail LO Detemine ending inventory by apply ing the retail inventory method su LO 6 Deermine ending inventory by applying the retainventory method, 24