Question: Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2021, is as follows: Cost Retail Beginning

Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2021, is as follows:

Cost Retail
Beginning inventory $ 52,000 $ 89,000
Net purchases 252,000 411,000
Net sales 407,000

Required: Use the retail method to estimate the June 30, 2021, inventory. (Round "Cost-to-retail percentage" to 1 decimal place.)

Estimated ending inventory (at retail) :

Estimated ending inventory (at cost) :

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