Question: Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2018, is as follows. Cost Retail Beginning

Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2018, is as follows. Cost Retail Beginning inventory $ 55,000 $ 92,000 Net purchases 255,000 408,000 Net sales 410,000 ora Required: Use the retail method to estimate the June 30, 2018, inventory. (Round "Cost-to-retail percentage" 11 decimal place) Estimated ending Inventory (Retail) Estimated ending inventory (Al Cost)

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