Question

Presented below is information related to Marigold Company. Cost Retail Beginning inventory $318,504 $279,000 Purchases 1,363,000...

Presented below is information related to Marigold Company.

Cost

Retail

Beginning inventory

$318,504 $279,000

Purchases

1,363,000 2,117,000

Markups

93,200

Markup cancellations

16,400

Markdowns

38,300

Markdown cancellations

5,500

Sales revenue

2,158,000


Compute the 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 using conventional retail inventory method

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