Question: Determine the ending inventory under the conventional retail method for the furniture department of Nash Department Stores from the following data. (Round ratio of cost

Determine the ending inventory under the conventional retail method for the furniture department of Nash Department Stores from the following data. (Round ratio of cost to selling price to 2 decimal places, e.g. 61.25 and final answer to O decimal places, e.g. 5,125.) Cost Retail Inventory, Jan. 1 $ 156,000 $ 296,600 Purchases 1,467,200 2,206,900 Freight-in 68,200 Markups, net 95,500 Markdowns, net 46,100 Sales revenue 2,151,100 Ending inventory ta
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