Question: The following data concerning the retail inventory method are taken from the financial records ofSheridanCompany. Cost Retail Beginning inventory$192000 $283000 Purchases 905000 1160000 Freight-in 23800

The following data concerning the retail inventory method are taken from the financial records ofSheridanCompany.

Cost Retail

Beginning inventory$192000 $283000

Purchases 905000 1160000

Freight-in 23800

Net markups 81000

Net markdowns 55200

Sales 1294000

Assumingnochange in the price level if the LIFO inventory method were used in conjunction with the data, the ending inventory at cost would be

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