Cullumber Inc. uses the conventional retail method to determine its ending inventory at cost. Assume...
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Cullumber Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $394500 ($595000), purchases during the current year at cost (retail) were $3428000 ($5213600), freight-in on these purchases totaled $160500, sales during the current year totaled $4686000, and net markups were $415000. What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, eg 0.635 and final answer to decimal places. $1537600 O $1086784 O $984064 O $821184
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