The records of Ellen’s Boutique report the following data for the month of April.
Sales revenue $96,900 Purchases (at cost) $64,000
Sales returns 3,000 Purchases (at sales price) 95,700
Markups 12,600 Purchase returns (at cost) 3,000
Markup cancellations 1,800 Purchase returns (at sales price) 4,200
Markdowns 9,500 Beginning inventory (at cost) 40,863
Markdown cancellations 3,700 Beginning inventory (at sales price) 50,400
Freight on purchases 3,500 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.)
