(Retail Inventory Method) The records of Mandy’s Boutique report the following data for the month of April.

Sales

$95,000

Purchases   (at cost)

$55,000

Sales   returns

2,000

Purchases   (at sales price)

88,000

Markups

10,000

Purchase   returns (at cost)

2,000

Markup   cancellations

1,500

Purchase   returns (at sales price)

3,000

Markdowns

9,300

Beginning   inventory (at cost)

30,000

Markdown   cancellations

2,800

Beginning   inventory (at sales price)

46,500

Freight   on purchases

2,400

   

Instructions

Compute the ending inventory by the conventional retail inventory method.