Fashion House uses the retail method to estimate ending inventory in its monthly financial statements. The following

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Fashion House uses the retail method to estimate ending inventory in its monthly financial statements. The following information is available for the month ended July 31.

Sales 200,000.00

Inventory, July 1 171,000.00 300,000.00

Net purchases 90,000.00 150,000.00

Good available for sale 261,000.00 450,000.00

Estimate the cost of goods sold for July $?

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College Accounting A Practical Approach

ISBN: 978-0133133233

12th edition

Authors: Jeffrey Slater

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Posted Date: Sep 13, 2020 12:25 AM

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Fashion House uses the retail method to estimate ending inventory in its monthly financial statements. The following

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