Hartsaw, Inc. had the following cost and retail pricing on its merchandise inventory. In addition, net sales

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Hartsaw, Inc. had the following cost and retail pricing on its merchandise Âinventory. In addition, net sales revenue for the time period was $ 96,000.

Compute the estimated cost of ending merchandise inventory by the retail method. (Round the cost to retail ratio to the nearestpercent.)

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Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Jan 16, 2015 09:40 AM

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Hartsaw, Inc. had the following cost and retail pricing on its merchandise inventory. In addition, net sales

Question:

Cost Retail Beginning Merchandise Inentory24,000 47,600 190,400 $120,000 238,000 Net Purchases Goods Available for Sale 96,000

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The estimated cost of ending merchandise inventory is 71000 Calculations Cos...View the full answer

Horngrens Financial and Managerial Accounting

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