Question

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

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

Sales revenue

$89,500

Purchases (at cost)

$49,400

Sales returns

1,900

Purchases (at sales price)

95,900

Markups

10,500

Purchase returns (at cost)

1,900

Markup cancellations

1,600

Purchase returns (at sales price)

2,900

Markdowns

8,700

Beginning inventory (at cost)

28,799

Markdown cancellations

2,700

Beginning inventory (at sales price)

46,400

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

$enter the dollar amount of the ending inventory by the conventional retail inventory method rounded to 0 decimal places

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