Question: E7-17 (Supplement B) Estimating Inventory Using the Retail Inventory Method Ralphs Clothings accounting records indicated the following at the end of the quarter: Cost Retail

E7-17 (Supplement B) Estimating Inventory Using the Retail Inventory Method Ralph’s Clothing’s accounting records indicated the following at the end of the quarter: Cost Retail Beginning inventory $26,000 $ 41,600 Purchases 48,000 76,800 Goods available for sale 74,000 118,400 Sales 100,400 Compute ending inventory at cost using the retail method.

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