Sales revenue$100,000Purchases (at cost)$44,600Sales returns2,000Purchases (at sales price)87,600Markups10,900Purchase returns (at cost)2,000Markup cancellations1,500Purchase returns (at sales price)2,900Markdowns8,500Beginning inventory (at cost)29,200Markdown cancellations2,700Beginning inventory (at sales price)48,400Freight on purchases2,300
Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method$
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