Question: Appendix EX 7-25 Retail method On the basis of the following data, estimate the cost of the merchandise inventory at June 30 by the retail

Appendix EX 7-25 Retail method On the basis of the following

Appendix EX 7-25 Retail method On the basis of the following data, estimate the cost of the merchandise inventory at June 30 by the retail method: June 1 June 1-30 June 1-30 Merchandise inventory Purchases (net) Sales Cost $ 165,000 2,361,500 Retail $ 275,000 3,800,000 3,550,000

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