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Compute inventory by conventional retail inventory method

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Reference no: EM132164799

Question - Presented below is information related to Pronghorn Company.

 

Cost

Retail

Beginning inventory

$252,942

$281,000

Purchases

1,383,000

2,119,000

Markups

 

94,300

Markup cancellations

 

15,600

Markdowns

 

33,200

Markdown cancellations

 

5,000

Sales revenue

 

2,228,000

Compute the inventory by the conventional retail inventory method.

Reference no: EM132164799

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