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Business, 27.06.2020 20:01 mckinleesmomp6qj1e

Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018: Cost Retail Merchandise inventory, January 1, 2018 $ 210,000 $ 282,000 Purchases 650,000 856,000 Freight-in 10,000 Net markups 22,000 Net markdowns 4,200 Net sales 820,000 Required: Determine the December 31, 2018, inventory by applying the conventional retail method.

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