Reference no: EM131266567
Presented below is information related to Oriole Company.
Cost Retail
Beginning inventory $362,797 $286,000
Purchases 1,370,000 2,145,000
Markups 95,100
Markup cancellations 14,800
Markdowns 32,900
Markdown cancellations 5,100
Sales revenue 2,193,000
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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Inventory by the conventional retail inventory method
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