What are you asking in this question I’m just confused, could you write it in the comments
Computation of the estimated inventory at retail on a LIFO basis
Cost ($)
Beginning inventory 16,800.00 24,800.00
Purchases 50,800.00 79,800.00
Freight - in 4,300.00 -
Purchase returns (3,500.00) (4,400.00)
Add: Net markups - 2,900.00
Less: Net markdowns: - (5,900.00)
Goods available for sale (excluding beginning inventory) 51,600.00 72,400.00
Goods available for sale (including beginning inventory) 68,400.00 97,200.00
Less: sales
Net sales 72,400.00
Add back employee discount 2,500.00 (74,900.00)
Ending inventory, at retail 22,300.00
The amount of retained earnings is $13,000.
<h3>What is
retained earnings?</h3>
Retained earnings refers to the firms' profit that is retained or saved for future purpose.
<u>Given Information</u>
Liabilities = $22,000
Common stock = $15,000
Equity = Assets - Liabilities
Equity = $50,000 - $22,000
Equity = $28,000
Equity = Common stock + Retained earnings
$28,000 = $15,000 + Retained earnings
Retained earnings = $28,000 - $15,000
Retained earnings = $13,000
In conclusion, the amount of retained earnings is $13,000.
Read more about retained earnings
<em>brainly.com/question/25998979</em>
Call the company they wont reply to you here nor see this message
They are called producers