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What is ending inventory using conventional retail method

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Splish Inc. had beginning inventory of $11,800 at cost and $21,000 at retail. Net purchases were $119,550 at cost and $153,400 at retail. Net markups were $10,600, net markdowns were $6,400, and sales revenue was $141,800. Compute ending inventory at cost using the conventional retail method.

Problem 1: What is the ending inventory using the conventional retail method?

Reference no: EM132695174

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