Apply the retail method to the following company information to estimate the cost of the ending inventory for the current period.
Definitions:
Yield Management
A dynamic pricing strategy that involves adjusting prices based on demand to maximize revenue, often used in hospitality and airline industries.
Demand-Oriented
A pricing strategy where price is set based on the customer's demand for the product or service.
Profit-Oriented
A business approach or strategy primarily focused on generating financial gain and maximizing profit margins.
Target Pricing
A pricing strategy where the selling price is determined based on the estimated price a consumer is willing to pay, rather than on the cost of production or the market average.
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