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Homework answers / question archive / The records of Shamrock's Boutique report the following data for the month of April
The records of Shamrock'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.
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