Presented below is information related to coronado company. cost retail beginning inventory $318,504 $279,000 purchases 1,363,000 2,117,000 markups 93,200 markup cancellations 16,400 markdowns 38,300 markdown cancellations 5,500 sales revenue 2,158,000.compute the inventory by the conventional retail inventory method. (round ratios for computational purposes to 0 decimal places, e. g. 78% and final answer to 0 decimal places, e. g. 28,987.)

Ending Inventory194,426

Explanation:

                                   costretail  

Beginning Inventory318,504  279,000  

purchases              1,363,0002,117,000  

net markup                              76,800  

net markdown                     -32,800  

Available              1,681,5042,440,000

cost to retail ratio: 1,681,504 / 2440,000 =0.689140984  = .6891

COGS: sales revenue x cost to retail ratio

2,158,000 x .6891 = 1,487,077.8‬

Ending Inventory:

Available for sales less COGS

1,681,504 - 1,487,077.8 = 194,426.2‬    

Ending Inventory194,426

gary will be given more time to file an amended complaint.