Reference no: EM131217612
Presented below is information related to Wildhorse Company.
Cost Retail
Beginning inventory $295,812 $275,000
Purchases 1,398,000 2,137,000
Markups 94,000
Markup cancellations 15,100
Markdowns 37,900
Markdown cancellations 4,800
Sales revenue 2,238,000
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 =
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Compute inventory by conventional retail inventory method
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