Question - The records of Riverbed's Boutique report the following data for the month of April.
Sales revenue$100,100
Purchases (at cost) $47,400
Sales returns 1,900
Purchases (at sales price) 95,300
Markups 9,500
Purchase returns (at cost) 1,900
Markup cancellations 1,500
Purchase returns (at sales price) 2,900
Markdowns 9,800
Beginning inventory (at cost) 37,344
Markdown cancellations 2,800
Beginning inventory (at sales price) 48,800
Freight on purchases 2,200
Compute the ending inventory by the conventional retail inventory method.