Question: Complete the following schedule by using the retail method to estimate ending inventory for September and October. September Cost October Retail Cost Retail Beginning inventory.74,950

Complete the following schedule by using the retail method to estimate ending inventory for September and October.

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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