Business, 22.04.2020 01:02 mildred3645

Crane Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $404500 ($605000), purchases during the current year at cost (retail) were $3628000 ($5413600), freight-in on these purchases totaled $170500, sales during the current year totaled $4886000, and net markups were $425000. What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e. g. 0.635 and final answer to 0 decimal places.

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Crane Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the...

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