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Wildhorse Inc. had beginning inventory of $10,528 at cost and $18,800 at retail. Net purchases were $109,667 at cost and $165,800 at retail. Net markups
Wildhorse Inc. had beginning inventory of $10,528 at cost and $18,800 at retail. Net purchases were $109,667 at cost and $165,800 at retail. Net markups were $10,200, net markdowns were $6,500, and sales revenue was $148,100. Compute ending inventory at cost using the LIFO retail method. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answer to 0 decimal places, e.g. 28,987.)
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