A business using the retail method of inventory costing determines that merchandise inventory at retail is $780,000.

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A business using the retail method of inventory costing determines that merchandise inventory at retail is $780,000. If the ratio of cost to retail price is 65%, what is the amount of inventory to be reported on the financial statements?

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Financial Accounting

ISBN: 978-1133952428

12th Edition

Authors: Warren, Reeve, Duchac

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Question Posted: May 07, 2012 04:48 AM

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A business using the retail method of inventory costing determines that merchandise inventory at retail is $780,000.

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Financial Accounting

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