E9-20B (Retail Inventory Method) The records of Thome’s Boutique report the following data for the month of April.

E9-20B (Retail Inventory Method) The records of Thome’s Boutique report the following data for the month of April.

Sales                            $204,000                        Purchases (at cost)                      $ 96,000

Sales returns                     4,000                        Purchases (at sales price)             176,000

Additional markups          20,000                        Purchase returns (at cost)                 4,000

Markup cancellations         3,000                        Purchase returns (at sales price)      6,000

Markdowns                      18,600                        Beginning inventory (at cost)           60,000

Markdown cancellations    5,600                        Beginning inventory (at sales price) 93,000

Freight on purchases        2,000

Instructions

Compute the ending inventory by the conventional retail inventory method.