C10 Homework Navigation 2 3 4 5 6 8 9 Finish attempt... Question 7 Incorrect Mark 0.00 out of 5.00 Flag question Estimating Inventory Using Retail Inventory Method-Average Cost Rainey Retailers disclosed the following data for January. At Cost At Retail Beginning inventory $20,000 Sales Sales returned (items restored to inventory) $26,000 310,000 5,000 Purchases 150,000 300,000 Purchase returns 3,000 6,000 Freight-in 9,000 Calculate estimated ending inventory using the retail inventory method at average cost. Carry all decimals in calculations; round the final answer to the nearest dollar. Ending inventory $ Check Incorrect Marks for this submission: 0.00/5.00. < Previous Save Answers