Solution-Compute ending inventory by conventional retail

Question - The records of Stellar's Boutique report the following data for the month of April.

Sales revenue	$107,400	Purchases (at cost)	$44,200
Sales returns	1,900	Purchases (at sales price)	83,000
Markups	10,300	Purchase returns (at cost)	1,900
Markup cancellations	1,400	Purchase returns (at sales price)	3,000
Markdowns	8,600	Beginning inventory (at cost)	22,312
Markdown cancellations	2,700	Beginning inventory (at sales price)	42,300
Freight on purchases	2,300

Required - Compute the ending inventory by the conventional retail inventory method.

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Compute ending inventory by conventional retail inventory : The records of Stellar's Boutique report the following data for the month of April. Compute the ending inventory by the conventional retail inventory method

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