Question: The following data concerning the conventional retail inventory method are taken from the financial records of Pharoah Company. Cost Retail Beginning inventory $ 202000 $271000

from the financial records of Pharoah Company. Cost Retail Beginning inventory $

The following data concerning the conventional retail inventory method are taken from the financial records of Pharoah Company. Cost Retail Beginning inventory $ 202000 $271000 Purchases 903000 1290000 Freight-in 23500 Net markups 80700 Net markdowns 55800 Sales 1294000 The ending inventory at retail should be Purchases 903000 1290000 Freight-in 23500 Net markups 80700 Net markdowns 55800 Sales 1294000 The ending inventory at retail should be O $371200. O $291900. $315400 O $347700

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