Homework Answers
| Particulars | Cost | Retail |
| Beginning Inventory | $280,390 | $283,000 |
| Purchases (net) | $1,397,000 | $2,178,000 |
| Goods available for sale | $1,677,390 | $2,461,000 |
| Add: Markups | $96,800 | |
| Less: Markups cancellations | (16,300) | |
| Total | $1,677,390 | 2,541,500 |
| Less: Markdowns | (33,000) | |
| Add: Markdowns cancellations | 5,500 | |
| Total | $1,677,390 | 2,514,000 |
| Less: Sales (net) | (2,226,000) | |
| Ending Inventory at retail | 288,000 |
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