Question: The retail inventory method and the average cost flow assumption are used by the Cloud Company for preparation of its interim reports. Information about

The retail inventory method and the average cost flow assumption are used

The retail inventory method and the average cost flow assumption are used by the Cloud Company for preparation of its interim reports. Information about Cloud's inventory in the second quarter of 2022 is shown below: Beginning inventory Purchases Cost $255 600 Net markups Net markdowns Sales Retail $ 800 1,400 200 (500) 1,300 What is the estimated cost of Cloud's inventory on June 30, 2022 (Do not round your intermediate calculations.).

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