Question: Cullumber Pet Supply, Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) was $797800
Cullumber Pet Supply, Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) was $797800 (\$981700), purchases during the current year at cost (retail) were $3225800($4178300). freight-in totaled $192700, sales during the current year totaled $4076000, and net markups (markdowns) were $6100 (\$289900). What is Cullumber's ending inventory value at cost? (Round cost-to-retail ratio percentages to 1 decimal ploces, eg 52.7%=0.527 ) $800200$1084000$884544$652963
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