Estimating Inventory Using Retail Inventory Method$-$ Conventional

Wally$-$Mart values its inventory using the conventional retail inventory method. It discloses the following data for its recent period.

Compute estimated ending inventory for the period$-$end using the conventional retail inventory method.

Note: Use negative signs as appropriate in the following schedule.

Cost Ratio

Numerator $\frac{?}{?}$ Denominator $=$

Result

Note: Use the result above EXACTLY as shown to compute the following amount.

Estimated ending inventory at cost $