Question: Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 3 0 , 2 0 2 4 ,

Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30,2024, is as follows:
Cost Retail
Beginning inventory $ 52,000 $ 89,000
Net purchases 252,000411,000
Net sales 407,000
Required:
Use the retail method to estimate the June 30,2024, inventory.
Note: Round "Cost-to-retail percentage" to 1 decimal place.

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