The records of Teal’s Boutique report the following data for the
month of April. Sales revenue 7,500 Purchases (at cost) $50,800
Sales returns 1,900 Purchases (at sales price) 84,200 Markups
10,800 Purchase returns (at cost) 1,900 Markup cancellations 1,400
Purchase returns (at sales price) 2,800 Markdowns 9,900 Beginning
inventory (at cost) 26,304 Markdown cancellations 2,600 Beginning
inventory (at sales price) 43,000 Freight on purchases 2,400
Compute the ending 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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