The records of Windsor's Boutique report the following data for the month of April.

Sales revenue $107,900

Purchases (at cost) $51,900

Sales returns 2,000

Purchases (at sales price) 82,700

Markups 10,900

Purchase returns (at cost) 2,000

Markup cancellations 1,700

Purchase returns (at sales price) 3,100

Markdowns 8,600

Beginning inventory (at cost) 28,117

Markdown cancellations 2,800

Beginning inventory (at sales price) 47,500

Freight on purchases 2,400

Compute the ending inventory by the conventional retail inventory method.

Ending Inventory by Conventional Retail Inventory Method 24,600

Explanation:

The format for Conventional Retail Inventory Method of Windsor's Boutique For the month of April

Cost Retail

Beginning Inventory 28,117 47,500

Purchases 51,900 82,700

Freight on purchases 2,400

Purchases Return (2,000) (3,100)

Add:Markups 10,900

Less : Markup Cancellations (1,700)

Goods Available for Sale 80,417 136,300

Less : Markdown (8600)

Add: Markdown Cancellation 2800

Less: Sales (107,900)

Add: Sales Return 2,000

Ending Inventory at Retail 24,600