Presented below is information related to Cullumber Inc. Inventory, 12/31/25 Purchases Purchase returns Purchase discounts Gross sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight-in Employee discounts granted Loss from breakage (normal) Retail $384,400 818,428 1,450,600 79,700 Cost $245,700 61,000 18,100 41,900 1,411,200 97,900 118,900 40,400 44,800 20,100 8,100 4,600 Assuming that Cullumber Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2026. Ending inventory using the conventional retail inventory method $

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.