Question

Feretti Inc. had beginning inventory of $22,000 at cost and $30,000 at retail. Net purchases were $157,500 at cost and $215,000 at retail. Net markups were $10,000, net markdowns were $7,000, and sales were $184,500.
Calculate the ending inventory at cost using the conventional retail method. Round the cost-to-retail percentage to one decimal place.


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  • CreatedSeptember 18, 2015
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