Based on the below data, calculate the estimated cost of the merchandise inventory on October 31 using the retail method (round to one decimal place) Cost Retail October 1 Merchandise inventory $1 836,500 $3,159,600 October 1 31 Purchases (net) 3,455,245 5,212,750 October 1 31 Sales 6,895,000 ...

Cost to retail ratio can be computed as Goods available at cos ...

Based on the below data, calculate the estimated cost of the merchandise inventory on October 31 using

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Based on the below data, calculate the estimated cost of the merchandise inventory on October 31 using the retail method. (round to one decimal place)

		Cost	Retail
October 1	Merchandise inventory	$1.836,500	$3,159,600
October 1-31	Purchases (net)	3,455,245	5,212,750
October 1-31	Sales		6,895,000

Posted Date: Apr 24, 2024 01:17 AM

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Based on the below data, calculate the estimated cost of the merchandise inventory on October 31 using

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Cost to retail ratio can be computed as Goods available at cos... View the full answer

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