Find Inventory at retail using avg inv, and retail sales?
Asked by rcktsquirrel
Beginning Inventory: 67,000 - based on cost Ending Inventory: 82,400 - based on cost Markup on cost: 35% What was the inventory at retail?

Best Answer:
The formula to calculate the proper markup for this question is 35% / (1 - 35%), which equals 53.8462% So, the beginning inventory at retail is $67,000 + ($67,000 x 53.8462%) = $103,077 The ending inventory at retail is $82,400 + ($82,400 x 53.8462%) = $126,769. Average inventory at retail is $114,923.