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The Burrito Corporation uses the conventional retail method to estimate ending inventory. Cost data for...

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Accounting

The Burrito Corporation uses the conventional retail method to estimate ending inventory. Cost data for the quarter ended March 31,20x2 is shown below:
Cost Retail
Beginning inventory $ 48,000 $ 63,000
Net purchases 153,000215,000
Net markups 22,000
Net markdowns 35,000
Net sales 221,000
Calculate Burrito's estimated ending inventory at March 31,20x2, to the nearest thousand, using the conventional retail method. (Do not round intermediate calculations.)The Burrito Corporation uses the conventional retail method to estimate ending inventory. Cost data for the quarter
ended March 31,202 is shown below:
Calculate Burrito's estimated ending inventory at March 31,202, to the nearest thousand, using the conventional
retail method. (Do not round intermediate calculations.)
Multiple Choice
$31,000.
$35,000.
$29,480.
$37,000.
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