Quayle Shoe Store uses the retail inventory method for its two departments, Women’s Shoes and Men’s Shoes. The following information for each department is obtained.

Instructions

Compute the estimated cost of the ending inventory for each department under the retail inventory method.

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Men's Department Women's Department Item Beginning inventory at cost Cost of goods purchased at cost Net sales Beginning inventory at retail Cost of goods purchased at retail 136,300 185,000 60,000 185,000 148,000 178,000 46,000 179,000