Question
Wildhorse Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $390500 ($591000), purchases
Wildhorse Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $390500 ($591000), purchases during the current year at cost (retail) were $3348000 ($5133600), freight-in on these purchases totaled $156500, sales during the current year totaled $4606000, and net markups were $411000. What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to 0 decimal places.
A) $809689.
B)$971296.
C)$1070674.
D)$1529600.
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