Reference no: EM131841276

Problem - The records of Marin'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 3,600                   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.