Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2018: Cost Retail Merchandise inventory, January 1, 2018 $ 390,000 $ 320,000 Purchases 587,000 980,000 Freight-in 28,000 Net markups 40,000 Net markdowns 6,000 Net sales 1,000,000 Required: Determine the December 31, 2018, inventory by applying the conventional retail method.

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?