Question: Target Inc, uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $796,800 ( $980,700),
Target Inc, uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $796,800 ( $980,700), purchases during the current year at cost (retail) were $3,205,800($4,158,300). freight-in on these purchases totaled $191,700, sales during the current year totaled $4,056,000, and net markups (markdowns) were $6,000($288,900). What is the ending inventory value at cost? 5882,645. $1,083,000 $652,082. $800,100
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