Determine the ending inventory under the conventional retail method for the furniture department of Nash Department Stores from the following data. (Round ratio of cost to selling price to 2 decimal places, e.g. 61.25% and final answer to O decimal places, e.g. 5,125.) Cost Inventory, Jan. 1 $156,000 Purchases Freight-in Markups, net Markdowns, net Sales revenue Retail $296,600 1,467,200 2,206,900 68,200 Ending inventory $ 95,500 46,100 2,151,100

FINANCIAL ACCOUNTING
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Determine the ending inventory under the conventional retail method for the furniture department of Nash Department Stores from
the following data. (Round ratio of cost to selling price to 2 decimal places, e.g. 61.25% and final answer to O decimal places, e.g. 5,125.)
Inventory, Jan. 1
Purchases
Freight-in
Markups, net
Markdowns, net
Sales revenue
Ending inventory
Cost
$156,000
1,467,200
68,200
tA
$
Retail
$296,600
2,206,900
95,500
46,100
2,151,100
Transcribed Image Text:Determine the ending inventory under the conventional retail method for the furniture department of Nash Department Stores from the following data. (Round ratio of cost to selling price to 2 decimal places, e.g. 61.25% and final answer to O decimal places, e.g. 5,125.) Inventory, Jan. 1 Purchases Freight-in Markups, net Markdowns, net Sales revenue Ending inventory Cost $156,000 1,467,200 68,200 tA $ Retail $296,600 2,206,900 95,500 46,100 2,151,100
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