The records of Ellen€™s Boutique report the following data for the month of April.

Instructions
Compute the ending inventory by the conventional retail inventorymethod.

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$99,000 Purchases (at cost) Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases 2,000 Purchases (at sales price) 10,000 Purchase returns (at cost 1,500 Purchase returns (at sales price) 9,300 Begining inventory (at cost) 2,800 Beginning inventory (at sales price) 2,400 $48,000 88,000 2,000 3,000 30,000 46,500