Question: Oriole uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $381000 ($585000), purchases during

Oriole uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $381000 ($585000), purchases during the current year at cost (retail) were $1875000 ($3120000), freight-in on these purchases totaled $120000, sales during $120000, sales during the current year totaled $2820000, and net markups (markdowns) were $63000 ($99000). 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. $611439 $535719. $558435. $849000

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