Hartsaw, Inc. had the following cost and retail pricing on its merchandise inventory. In addition, net sales
Question:
Hartsaw, Inc. had the following cost and retail pricing on its merchandise Âinventory. In addition, net sales revenue for the time period was $ 96,000.
Compute the estimated cost of ending merchandise inventory by the retail method. (Round the cost to retail ratio to the nearestpercent.)
Transcribed Image Text:
Cost Retail Beginning Merchandise Inentory24,000 47,600 190,400 $120,000 238,000 Net Purchases Goods Available for Sale 96,000
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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