From the following, calculate the cost of ending inventory using the retail method (round the cost...

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From the following, calculate the cost of ending inventory using the retail method (round the cost ratio to the nearest tenth percent) January 1-inventory at cost January 1-Inventory at retail Net purchases at cost Net purchases at retail Net sales at retail $ 19,000 60,000 265,000 392,000 375,000 2. Given the following, calculate the estimated cost of ending inventory using the gross profit method: Gross profit on sales 30% Beginning inventory, January 1, 2017 $30,000 $8,000 $16,000 Net purchases Net sales at retail for January From the following, calculate the cost of ending inventory using the retail method (round the cost ratio to the nearest tenth percent) January 1-inventory at cost January 1-Inventory at retail Net purchases at cost Net purchases at retail Net sales at retail $ 19,000 60,000 265,000 392,000 375,000 2. Given the following, calculate the estimated cost of ending inventory using the gross profit method: Gross profit on sales 30% Beginning inventory, January 1, 2017 $30,000 $8,000 $16,000 Net purchases Net sales at retail for January

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1 Cost of ending inventory using the retail method Step 1 Calculate the cost ratio Cost Ratio Cost o... View the full answer