Help As soon as possible please, IN ACCOUNTING FORMAT:

On the basis of the following data, what is the estimated cost of the merchandise inventory on October 31 by the retail method? Oct. 1 Merchandise Inv $225, 000 $324, 500 Oct. 1-31 Purchases (net) 335, 000 475, 500 Oct. 1-31 Sales (net) 600, 000 If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory on June 30, based on the following data? June 1 Merchandise Inv $75, 000 June 1-30 Purchases (net) $150, 000 June 1-30 Sales (net) $135, 000 Too much inventory on hand: reduces solvency increases the cost to safeguard the asset increases the losses due to price declines all of the above Inventory turnover: is computed by dividing average inventory by cost of merchandise sold measures the relationship between the volume of goods sold and amount of inventory carried increases the risk of loss from damaged merchandise is computed by dividing the beginning inventory plus the ending inventory by two None Under perpetual inventory system, when a shortage is discovered: Merchandise Inventory is debited Cost of Merchandise Sold is credited Inventory Shortages is credited Merchandise Inventory is credited None