Passarant Company reports goods available for sale at cost, $ 156,000. Beginning inventory at retail is $

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Passarant Company reports goods available for sale at cost, $ 156,000.

Beginning inventory at retail is $ 60,000

Goods purchased during the period at retail were $ 180,000.

Sales for the period amounted to $ 90,000.

Required:

Determine the estimated cost of the ending inventory using the retail inventory method.

Related Book For answer-question

Accounting Introduction To Financial Accounting

ISBN: 9781517089719

1st Edition

Authors: Henry Dauderis, David Annand

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Posted Date: May 22, 2023 07:57 AM

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Passarant Company reports goods available for sale at cost, $ 156,000. Beginning inventory at retail is $

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Calculate the costtoretail ratio CosttoRetail Ratio Cost of Goods Available for Sale Reta... View the full answer

Accounting Introduction To Financial Accounting

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