Business, 08.04.2021 18:20 steve12335

Ivanhoe Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $383500 ($584000), purchases during the current year at cost (retail) were $3208000 ($4993600), freight-in on these purchases totaled $149500, sales during the current year totaled $4466000, and net markups were $404000. What is the ending inventory value at cost? Hint: Round intermediate calculation to 3 decimal places, e. g. 0.635 and final answer to 0 decimal places.

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Ivanhoe Inc. uses the conventional retail method to determine its ending inventory at cost. Assume t...

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