Ending inventory using the conventional retail method

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Boyne Inc. had beginning inventory of $13,600 at cost and $20,500 at retail. Net purchases were $114,668 at cost and $172,300 at retail. Net markups were $10,800; net markdowns were $8,200; and sales revenue was $155,700. Compute ending inventory at cost using the conventional retail 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 the conventional retail method $___________

Reference no: EM13775547

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Ending inventory using the conventional retail method : Boyne Inc. had beginning inventory of $13,600 at cost and $20,500 at retail. Net purchases were $114,668 at cost and $172,300 at retail. Net markups were $10,800; net markdowns were $8,200; and sales revenue was $155,700. Compute ending inventory at ..

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