Question: Colonial cooperation uses the retail method to value its inventory. The following information is available for the year: Exercise 9-14 (Algo) Conventional retail method [LO9-4]

Colonial cooperation uses the retail method to value its inventory. The following information is available for the year:

Exercise 9-14 (Algo) Conventional retail method [LO9-4] Colonial Corporation uses the retall method to value its inventory. The following information is avallable for the year: Required: Determine ending inventory and cost of goods sold by applying the conventional retall method using the information provided. Note: Round ratio calculation to 2 decimal places (i.e. 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with minus sign

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