Question: Oriole Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $ 384500 ($

Oriole Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $384500 ($585000), purchases during the current year at cost (retail) were $3228000 ($5013600), freight-in on these purchases totaled $150500, sales during the current year totaled $4486000, and net markups were $405000. What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to 0 decimal places.

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