Question: keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator &inprogress-false eBook Calculator Print Item Retail Method A business using the retail method of inventory costing determines that inventory at retail is $775,000.

using the retail method of inventory costing determines that inventory at retail

keAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator &inprogress-false eBook Calculator Print Item Retail Method A business using the retail method of inventory costing determines that inventory at retail is $775,000. Ir the ratio of cost to retail price is 66%, what is the amount of inventory to be reported on the financial statements? Gross Profit Method Based on the following data, estimate the cost of the ending inventory: Sales $9,250,000 Estimated gross profit rate 36% Beginning inventory Purchases (net) $180,000 5,945,000 Merchandise available for sale $6,125,000 Estimated Cost of Ending Inventory

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