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Wildhorse uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $387000 ($591000), purchases
Wildhorse uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $387000 ($591000), purchases during the current year at cost (retail) were $1995000 ($3240000), freight-in on these purchases totaled $126000, sales during the current year totaled $2940000, and net markups (markdowns) were $69000 ($105000). 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. $572913. $630783. $549765. $855000.
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