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Compute the ending inventory

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

Sales $110,200 Purchases (at cost) $63,800

Sales returns 2,320 Purchases (at sales price) 102,080

Markups 11,600 Purchase returns (at cost) 2,320

Markup cancellations 1,740 Purchase returns (at sales price) 3,480

Markdowns 10,788 Beginning inventory (at cost) 34,800

Markdown cancellations 3,248 Beginning inventory (at sales price) 53,940

Freight on purchases 2,784

Compute the ending inventory by the conventional retail inventory method.

Reference no: EM131769152

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