please solve clearly d. $800,000. Boxer Inc. uses the conventional retail method

Question

please solve clearly

d. $800,000. Boxer Inc. uses the conventional retail method to determine its ending inventory at cost ntory at cost (retail) were $393,500 ($594,000), purchases uring the current year at cost (retail) were $3,408,000 ($5,193,600), freight-in on these purchases totaled $159,500, sales during the current year totaled $4,666,000, and net markups were $414,000. What is the ending inventory value at cost? a $T,535,600 c. $981,248 d. $1,050,350 ihich of the follnwing is not a major characteristic of a plant asset?

Explanation / Answer

Calcualtion of ending inventory:

Cost of goods sold= Sales- net markup= 4666000-414000= $4252000

Ending inventory= opening stock+ purchases- cost of goods sold

                        = 594000+5193600- 4252000= 1535600

Therefore correct answer is a) $1535600

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