Question: Colonial Corporation uses the retail method so value its inventory. The following Information is available for the year Required: Determine ending inventory and cost of

Colonial Corporation uses the retail method so value its inventory. The following Information is available for the year Required: Determine ending inventory and cost of goods sold by applying the conventional retail method using the information grovided Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.) Enter amounts to be deducted with a minus sign

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