Question: Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2024, is as follows: Retail Beginning

Andover Stores uses the average cost retail method to estimate its ending

Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2024, is as follows: Retail Beginning inventory Net purchases Net sales Cost $ 46,000 $ 83,000 246,000 417,000 401,000 Required: Use the retail method to estimate the June 30, 2024, inventory. Note: Round "Cost-to-retail percentage" to 1 decimal place. Estimated ending inventory (At Retail) Estimated ending inventory (At Cost)

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