Drake Corporation had the following amounts, all at retail: Beginning inventory $ 3,600 Purchases $140,000 Purchase returns 6,000 Net markups 18,000 Abnormal shortage 4,000 Net markdowns 2,800 Sales 72,000 Sales returns 1,800 Employee discounts 1,600 Normal shortage 2,600 What is Drake's ending inventory at retail?Group of answer choices $74,400. $76,000. $77,600. $78,400

Drake Corporation had the following amounts, all at retail: Beginning inventory $ 3,600 Purchases $140,000 Purchase returns 6,000 Net markups 18,000 Abnormal shortage 4,000 Net markdowns 2,800 Sales...

Drake Corporation had the following amounts, all at retail:

Beginning inventory	$ 3,600	Purchases	$140,000
Purchase returns	6,000	Net markups	18,000
Abnormal shortage	4,000	Net markdowns	2,800
Sales	72,000	Sales returns	1,800
Employee discounts	1,600	Normal shortage	2,600

What is Drake's ending inventory at retail?

Group of answer choices

$74,400.

$76,000.

$77,600.

$78,400

Jun 01, 2022

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