Question: Complete the following schedule by using the retail method to estimate ending inventory for September and October. September October Cost Retail Cost Retail Beginning inventory..

Complete the following schedule by using the retail method to estimate ending inventory for September and October.
September October
Cost Retail Cost Retail
Beginning inventory.. $106,000 $155,000
Cost of goods purchased. 600,000 950,000 550,000 1,000,000
Goods available for sale
Less: Net sales at retail.. 780,000 820,000
Ending inventory at retail
Cost of retail ratio
Estimated ending inventory

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