Question

The records of Crane’s Boutique report the following data for the month of April. Sales revenue...

The records of Crane’s Boutique report the following data for the month of April.

Sales revenue $105,400 Purchases (at cost) $46,100
Sales returns 1,900 Purchases (at sales price) 85,900
Markups 9,200 Purchase returns (at cost) 1,900
Markup cancellations 1,600 Purchase returns (at sales price) 2,900
Markdowns 9,100 Beginning inventory (at cost) 24,997
Markdown cancellations 2,700 Beginning inventory (at sales price) 44,300
Freight on purchases 2,300


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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