Presented below is information related to Kingbird Company. ...
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Accounting
Presented below is information related to Kingbird Company.
| Cost | Retail | |||
| Beginning inventory | $ 54,510 | $96,300 | ||
| Purchases (net) | 122,230 | 194,700 | ||
| Net markups | 9,740 | |||
| Net markdowns | 25,731 | |||
| Sales revenue | 203,890 |
(a)
Compute the ending inventory at retail.
| Ending inventory | $ |
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