During 2020, Harmony Co. sold $514,000 of merchandise at marked retail prices. At the end of...
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During 2020, Harmony Co. sold $514,000 of merchandise at marked retail prices. At the end of 2020, the following information was available from its records: Beginning inventory Net purchases At Cost At Retail $121,600 $250,800 225,240 387,600 Use the retail method to estimate Harmony's 2020 ending inventory at cost. (Round your intermediate and final answers to 2 decimal places.) Ending inventory During 2020, Harmony Co. sold $514,000 of merchandise at marked retail prices. At the end of 2020, the following information was available from its records: Beginning inventory Net purchases At Cost At Retail $121,600 $250,800 225,240 387,600 Use the retail method to estimate Harmony's 2020 ending inventory at cost. (Round your intermediate and final answers to 2 decimal places.) Ending inventory
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Answer rating: 100% (QA)
Given the data Beginning inventory at cost 121600 Beginning inventory at retail 2500... View the full answer
Related Book For
Fundamental Accounting Principles Volume 1
ISBN: 9781259259807
15th Canadian Edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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