Question: Cullumber Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $394500 ($595000). purchases

Cullumber Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $394500 ($595000). purchases during the current year at cost (retail) were $3428000 ($5213600), freight-in on these purchases totaled $160500. sales during the current year totaled $4686000, and net markups were $415000. What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places. e.8.0.635 and final answer to decimal places. O $821184 O $1086784. O $1537600. O $984064

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