Retreat Company would like to estimate its ending inventory to be reported for its Sept. 30, 2022, interim reports. The following information was reported: At Cost At Retail Beginning inventory 1,600,000 2,100,000 Gross purchases 5,400,000 8,400,000 Purchase returns 350,000 520,000 Purchase discounts 80,000 Freight-in 331,000 Net markups 320,000 Net markdowns 300,000 Gross sales 8,900,000 Sales discounts 200,000 Sales returns 450,000 Employee discounts 120,000.

Required: Compute the (a) estimated ending inventory at cost as of June 30, 2023.

Answer rating: 100% (QA)

To compute the estimated ending inventory at cost as of June 30 2023 we need to take into a... View the full answer