Question: PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! Campbell Corporation uses the retail method to value Its inventory. The following information

PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU!

Campbell Corporation uses the retail method to value Its inventory. The following information is available for the year 2021: Retail $289,000 912,000 Cost Merchandise inventory, January 1, 2021 $280,000 687,000 17,000 Purchases Freight-in Net markups 29,000 4,900 890,000 Net markdowns Net sales Required: Determine the December 31, 2021, inventory by applying the conventional retall method using the information provided. Cost-to-Retail Cost Retail Ratio Beginning inventory Plus: Purchases Freight-in Net markups Less: Net markdowns Goods available for sale Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost

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