$142,100
Purchases 583,100
Net markups - 29,400
Total goods available for sale 656,600
Estimated ending inventory:
Total goods available for sale 656,600
Markdowns - 9,800
Estimated sales 774,200
Estimated ending inventory 872,600
Estimated cost-to-retail percentage:
Cost of goods available for sale 656,600
Retail value of goods available for sale 980,000
Cost-to-retail percentage 0.67
Estimated ending inventory:
Estimated ending inventory at retail 872,600
Cost-to-retail percentage 0.67
Estimated ending inventory at cost $584,092