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Campbell Corporation uses the retail method to value its Inventory. The following Information is available...

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Campbell Corporation uses the retail method to value its Inventory. The following Information is available for the year 2021: Cost $360,000 663,000 25,000 Retail $ 297,000 976, eee Merchandise inventory, January 1, 2021 Purchases Freight-in Net markups Net markdowns Net sales 37,000 5,700 970, eee Required: Determine the December 31, 2021, Inventory by applying the conventional retail method using the information provided. (Round ratlo calculation to 2 decimal places (l.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus slgn.) Cost Retail Cost-to-Retail Ratio S $ 297,000 Beginning inventory Purchases Freight-in Net markups 360,000 663.000 25,000 976,000 37,000 1.310.000 Net markdowns Goods available for sale (5.700) 1,304,300 1,048,000 Cost-to-retail percentage % Net sales Estimated ending inventory at retail Estimated ending inventory at cost (970.000) 334,300 $

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