On June 30, Fabre Fabrics has the following data pertaining to the retail inventory method Goods available for sale at cost $35,000, at retail $50,000 net sales $40,000, and ending inventory at retail $8,000 Compute the estimated cost of the ending inventory using the retail inventory method ...

At Cost At Retail Goods available for s ...

On June 30, Fabre Fabrics has the following data pertaining to the retail inventory method: Goods available

Question:

On June 30, Fabre Fabrics has the following data pertaining to the retail inventory method: Goods available for sale: at cost $35,000, at retail $50,000; net sales $40,000, and at retail $8,000. Compute the estimated cost of the using the retail inventory method.

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 =...