E6.21 -Determine ending inventory at cost using retail method
Kicks Shoe Store uses the retail inventory method for its two departments, Womens Shoes and Mens Shoes. The following information for each department is obtained.
	Item	Women's Shoes	Men's Shoes
	Beginning inventory at cost	$ 25,000	$ 45,000
	Cost of goods purchased at cost	110,000	136,300
	Net sales	178,000	185,000
	Beginning inventory at retail	46,000	60,000
	Cost of goods purchased at retail	179,000	185,000
Instructions
Compute the estimated cost of the ending inventory for each department under the retail inventory method.
NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.