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Business, 22.04.2020 01:46 deee12345

Presented below is information related to Kingbird Inc. Cost Retail Inventory, 12/31/20 $254,700 $397,600 Purchases 1,002,796 1,454,100 Purchase returns 59,600 80,100 Purchase discounts 17,900 — Gross sales revenue — 1,423,100 Sales returns — 95,600 Markups — 119,500 Markup cancellations — 40,500 Markdowns — 44,300 Markdown cancellations — 20,200 Freight-in 41,400 — Employee discounts granted — 8,000 Loss from breakage (normal) — 4,200
Instructions. Assuming that Waveland Inc. uses the conventional retail inventory method, compute the cost of its ending inventory at December 31, 2020.

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