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Presented below is information related to Metlock Company. ...

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Question

Accounting

Presented below is information related to Metlock Company.

Cost

Retail

Beginning inventory

 $307,645 $285,000

Purchases

 1,397,000 2,106,000

Markups

 95,200

Markup cancellations

 15,700

Markdowns

 33,500

Markdown cancellations

 4,800

Sales revenue

 2,240,000

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

$enter the dollar amount of the ending inventory using conventional retail inventory method

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