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Compute the ending inventory

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

Sales revenue$100,100

Purchases (at cost) $47,400

Sales returns 1,900

Purchases (at sales price) 95,300

Markups 9,500

Purchase returns (at cost) 1,900

Markup cancellations 1,500

Purchase returns (at sales price) 2,900

Markdowns 9,800

Beginning inventory (at cost) 37,344

Markdown cancellations 2,800

Beginning inventory (at sales price) 48,800

Freight on purchases 2,200

Compute the ending inventory by the conventional retail inventory method.

Reference no: EM132132701

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