Complete the following schedule by using the retail method to estimate ending inventory for September and October.
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September Cost October Retail Cost Retail Beginning inventory.74,950 112,000 Cost of goods purchased.. Goods available for sale 395,00000 461,590 674,000 Less: Net sales at retail... Ending inventory at retail Cost to retail ratio Estimated ending inventory 614,000 700,000
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Beginning inventory Cost of goods purchased Goods available for sale Less Net s...View the full answer
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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