Accounting

Riverbed 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. Women's Men's Item Shoes Shoes Beginning inventory at cost $35,000 $48,000 Cost of goods purchased at cost 103,600 147,000 Net sales 130,500 139,000 Beginning inventory at retail 49,500 60,000 Cost of goods purchased at retail 131,500 190,000 Calculate cost-to-retail ratio. (Round answers to O decimal places, e.g. 15%.) Women's Men's Shoes Shoes Cost-to-retail ratio % % eTextbook and Media Compute the estimated cost of the ending inventory for each department under the retail inventory method. (Round answers to O decimal places, e.g. 1,250.) Women's Men's Shoes Shoes Estimated cost of ending inventory $