During 2014, Harmony Co. sold $520,000 of merchandise at marked retail prices. At the end of 2014,

Question:

During 2014, Harmony Co. sold $520,000 of merchandise at marked retail prices. At the end of 2014, the following information was available from its records:

Use the retail method to estimate Harmony's 2014 ending inventory at cost. Round all calculations to two decimal places,

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...