Question: Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Merchandise inventory, January 1, 2021

Campbell Corporation uses the retail method to value its inventory. The following

Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales Cost $190,000 600,000 8,000 Retail $280,000 840,000 20,000 4,000 800,000 Required: Determine the December 31, 2021, inventory by applying the conventional retail method using the information provided.

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