Business, 04.05.2021 01:50 gabelawson6996

Ivanhoe uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $392000 ($596000), purchases during the current year at cost (retail) were $2095000 ($3340000), freight-in on these purchases totaled $131000, sales during the current year totaled $3040000, and net markups (markdowns) were $74000 ($110000). What is the ending inventory value at cost

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Ivanhoe uses the conventional retail method to determine its ending inventory at cost. Assume the be...