Beginning inventory Sales Sales returns (items restored to inventory) Purchases Purchase returns Freight-in At At Cost...

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Beginning inventory Sales Sales returns (items restored to inventory) Purchases Purchase returns Freight-in At At Cost Retail $40,000 $52,000 620,000 10,000 300,000 600,000 6,000 12,000 18,000 Calculate estimated ending inventory using the average cost retail method. Note: Use negative signs as appropriate in the following schedule. Cost Retail Goods available for sale: Beginning inventory $ 0 $ 0 Net purchases 0 0 Total goods available for sale Net sales $ 0 $ 0 0 Estimated ending inventory at retail $ 0 Cost Ratio Numerator / Denominator = $ 620,000 Result $ 334,000 x = 1.86 Note: Use the result above EXACTLY as shown to compute the following amount. Estimated ending inventory at cost: $ 37,104 Beginning inventory Sales Sales returns (items restored to inventory) Purchases Purchase returns Freight-in At At Cost Retail $40,000 $52,000 620,000 10,000 300,000 600,000 6,000 12,000 18,000 Calculate estimated ending inventory using the average cost retail method. Note: Use negative signs as appropriate in the following schedule. Cost Retail Goods available for sale: Beginning inventory $ 0 $ 0 Net purchases 0 0 Total goods available for sale Net sales $ 0 $ 0 0 Estimated ending inventory at retail $ 0 Cost Ratio Numerator / Denominator = $ 620,000 Result $ 334,000 x = 1.86 Note: Use the result above EXACTLY as shown to compute the following amount. Estimated ending inventory at cost: $ 37,104