For numbers 6 and 7: Bruno Company provided the following data: Cost Retail Beginning inventory 340,000 540,000 Purchases 4,500,000 7,300,000 Freight in 100,000 Purchase return 150,000 300,000 Purchase allowance 90,000

For numbers 6 and 7:

Bruno Company provided the following data:
Cost Retail
Beginning inventory 340,000 540,000
Purchases 4,500,000 7,300,000
Freight in 100,000
Purchase return 150,000 300,000
Purchase allowance 90,000
Departmental transfer in 100,000 160,000
Net markup 200,000
Net markdown 500,000
Sales 6,500,000
Sales allowance 50,000
Employee discount 100,000
Spoilage and breakage 300,000

6. is the estimated cost of ending inventory using the conservative retail?
668,354 c. 364,557
303,797 d. 360,000

7. is the estimated cost of ending inventory using the average cost retail?
713,542 c. 384,000
389,189 d. 324,324

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