Brandon Shoe Store uses the retail inventory method to estimate its monthly ending inventories. The following information is available at November 30, 2017:

At November 30, Brandon Shoe Store takes a physical inventory count at retail. The actual retail values of the investments in each department on November 30, 2017, are as follows: Women's Shoes $381,250, and Men's Shoes $426,100.
Instructions
Determine the estimated cost of the ending inventory at November 30, 2017, using the retail inventory method.
Taking It Future:
Calculate the store's loss on November 30, 2017, from theft and other causes, at retail and at cost?

Transcribed Image Text:

Women's Shoes Men's Shoes Cost Retail 424,000 1,801,000 Cost Retail Beginning inventory Purchases Purchase returns and allowances Freight in Sales Sales returns and allowances $ 276,000 1,181,000 24,600 6,000 S 191,000 1,046,000 21,900 7,200 S 323,000 1,772,000 36,400 37,000 1,651,000 25,000 1,826,000 28,000