The records of ellen's boutique report the following data for the month of april. sales revenue $96,900 purchases (at cost) $64,000sales returns 3,000 purchases (at sales price) 95,700markups 12,600 purchase returns (at cost) 3,000markup cancellations 1,800 purchase returns (at sales price) 4,200markdowns 9,500 beginning inventory (at cost) 40,863markdown cancellations 3,700 beginning inventory (at sales price) 50,400freight on purchases 3,500
compute the ending inventory by the conventional retail inventory method.