Question: Brief Exercise 9-7 (Algo) Retail inventory method; average cost [LO9-3] Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending

Brief Exercise 9-7 (Algo) Retail inventory

Brief Exercise 9-7 (Algo) Retail inventory method; average cost [LO9-3] Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2021: Estimate ending inventory and cost of goods sold (average cost). (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%)

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