Question: Fullerton Company s October 1 inventory had a cost of 58 200
Fullerton Company’s October 1 inventory had a cost of $58,200 and a retail value of $76,000. During October, net purchases cost $231,000 with a retail value of $406,000. Net sales at retail for Fullerton Company during October were $229,000. Calculate the ending inventory at cost using the retail inventory method.
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