Can you help me figure out the ending inventory at retail on this ques


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Can you help me figure out the ending inventory at retail on this question... Is there a ratio? Formula? The following data concerning the retail inventory method are taken from the financial records of Sheridan Company. Cost Retail Beginn

Sale price $15.00 Regular price $30.00

Can you help me figure out the ending inventory at retail on this question... Is there a ratio? Formula?

The following data concerning the retail inventory method are taken from the financial records of Sheridan Company.

Cost Retail

Beginning inventory 194000 284000

Purchases 902000 1180000

Freight-In 24800 ---

Net Markups -- 80700

Net Markdowns -- 56700

Sales -- 1344000

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