Presented below is information related to Culver Company. ...
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Accounting
Presented below is information related to Culver Company.
Cost
Retail
Beginning inventory
$194,276
$276,000
Purchases
1,368,000
2,164,000
Markups
93,900
Markup cancellations
14,100
Markdowns
32,800
Markdown cancellations
5,000
Sales revenue
2,239,000
Compute the inventory by the conventional retail inventory 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 conventional retail inventory method: $_______
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