Zapatos, SLU uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained.
Item Women's Shoes Men's Shoes
Beginning inventory at cost.........................€ 36,500...........................€ 45,000
Cost of goods purchased at cost.....................150,000............................136,300
Net sales................................................178,000............................185,000
Beginning inventory at retail...........................46,000..............................60,000
Cost of goods purchased at retail...................187,000.............................185,000
Instructions
Compute the estimated cost of the ending inventory for each department under the retail inventory method.