Presented below is information related to Tamarisk Inc. ...
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Accounting
Presented below is information related to Tamarisk Inc.
Cost
Retail
Inventory, 12/31/20
$ 245,700
$ 384,400
Purchases
818,428
1,450,600
Purchase returns
61,000
79,700
Purchase discounts
18,100
Gross sales revenue
1,411,200
Sales returns
97,900
Markups
118,900
Markup cancellations
40,400
Markdowns
44,800
Markdown cancellations
20,100
Freight-in
41,900
Employee discounts granted
8,100
Loss from breakage (normal)
4,600
Assuming that Tamarisk Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2021. (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 the conventional retail inventory method
$
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