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Retail Inventory Method Uncle Butch's Hunting Supply Shop reports the following information related to inventory: Cost Retail Beginning inventory Purchases Net additional markups Net markdowns s 35,000 92,000 75,000 200,000 15,000 (22,000) Goods available for sale $110,000 4 285,000 (178,000) $107,000 Sales Ending inventory at retail Calculate Undle Butch's Hunting Supply Shop's ending inventory using the retail inventory method under the average cost assumption. Round the cost-to-retail ratio to 3 decimal places. 107,000 x Retail Inventory Method Uncle Butch's Hunting Supply Shop reports the following information related to inventory: Cost Retail Beginning inventory Purchases Net additional markups Net markdowns Goods available for s Sales Ending inventory at retail $35,000 $92,000 75,000200,000 15,000 (22,000) $110,000 285,000 (178,000) s 107,000 ale Calculate Uncle Butch's Hunting Supply Shop's ending inventory using the retail inventory method under the LIFO cost flow assumption. Round the cost-to-retail ratio to 3 decimal places. 107,000 X Retail Inventory Method Uncle Butch's Hunting Supply Shop reports the following information related to inventory: Cost Retail Beginning inventory Purchases Net additional markups Net markdowns Goods available for sale Sales Ending inventory at retail 35,000 92,000 75,000 200,000 15,000 - (22,000) $110,000 $285,000 (178,000) $107,000 Calculate Uncle Butch's Hunting Supply Shop's ending inventory using the retail inventory method under the lower of average cost or market assumption. Round the cost-to-retail ratio to 3 decimal places. 107,000 X

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