Question: DK Super Stores Inc. uses the average cost retail method to estimate its ending inventory. Information at June 30, 2006 is as follows: Required: Compute

DK Super Stores Inc. uses the average cost retail method to estimate its ending inventory. Information at June 30, 2006 is as follows:


DK Super Stores Inc. uses the average cost retail method


Required:
Compute the cost-to-retail percentage used byDK.

Cost Beginning Inventory Net Purchases Net Sales Ending Inventory Retail S105,000 375,000 380,000 64000

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