Exercise 6-13 Estimating ending inventory-retail method LO6 During 2023, Harmony Co. sold $517,000 of merchandise at marked retail prices. At the end of 2023, the following infor available from its records: Beginning inventory Net purchases At Cost At Retail $253,800 390,600 Ending inventory $124,600 228,240 Use the retail method to estimate Harmony's 2023 ending inventory at cost. (Round your intermediate and final answe decimal places.)

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.