Problem - Retail Inventory Method) Presented below is information related to Kuchinsky Company.
Cost Retail
Beginning inventory $200,000 $280,000
Purchases 1,425,000 2,140,000
Markups 95,000
Markup cancellations 15,000
Markdowns 35,000
Markdown cancellations 5,000
Sales 2,250,000
Instructions - Compute the inventory by the conventional retail inventory method.