Exercise 5-16B Estimating ending inventory-retail method LO P4

In 2017, Dakota Company had net sales (at retail) of $138,000.

	At Cost				At Retail
Beginning inventory		$	32,700			$	65,000
Cost of goods purchased			70,746				99,200

The above additional information is available from its records at the end of 2017. Use the retail inventory method to estimate Dakota's 2017 ending inventory at cost. (Round cost ratio to the nearest whole percentage.)

At Cost Cost-to-Retail Ratio At Retail $ $ Beginning inventory Cost of goods purchased 32,700 70,746 103,446 65,000 99,200 164,200 $ $ Net sales at retail