Current Attempt in Progress
Presented below is information related to Whispering Company.
Cost
Retail
Beginning inventory
$47,471 $64,100
Purchases
342,000 499,000
Markups
21,700
Markup cancellations
3,500
Markdowns
9,300
Markdown cancellations
1,200
Sales revenue
511,000
Compute the inventory by the conventional retail inventory method.
Ending inventory using conventional retail inventory method
$