Reference no: EM132488564

The records of Ivanhoe's Boutique report the following data for the month of April.

Sales revenue                      $107,900

Purchases (at cost)              $51,900

Sales returns                          2,000

Purchases (at sales price)       82,700

Markups                               10,900

Purchase returns (at cost)      2,000

Markup cancellations              1,700

Purchase returns (at sales price)  3,100

Markdowns                              8,600

Beginning inventory (at cost)         28,117

Markdown cancellations                2,800

Beginning inventory (at sales price) 47,500

Freight on purchases                      2,400

Question 1: Compute the ending inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to O decimal places, e.g. 28,987.)