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Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2016, the records indicate the following data:
(S in 000s)
Cost
Retail
Beginning inventory
$ 79
$124
Purchases
670
1,005
Freight-in on purchases
29
Purchase returns
2
3
Net markups
Net markdowns
7
Net sales
915
Use the retail method to approximate cost of ending inventory in each of the following ways: (Enter your answers in thousands. Round your intermediate calculations to 4 decimal places and final answers to 2 decimal places.)
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