Question
Wildhorse Pet supply uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $793800 ($977700),
Wildhorse Pet supply uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $793800 ($977700), purchases during the current year at cost (retail) were $3145800 ($4098300), freight-in on these purchases totaled $188700, sales during the current year totaled $3996000, and net markups (markdowns) were $5700 ($285900). 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. $799800. $649438. $1080000. $876960.
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