PLEASE ANSWER ALL

Given the following, calculate the estimated cost of ending inventory using the gross profit method.

Gross profit on sales		65	%		Net purchases	$	3,700
Beginning inventory	$	28,800			Net sales at retail	$	16,800

Estimated cost of ending inventory

$

Complete the following: (Round your answers to the nearest hundredth.)

Average inventory at cost	Average inventory at retail	Net sales	Cost of goods sold	Inventory turnover at cost	Inventory turnover at retail
$15,200	$22,740	$76,000	$55,800

From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method.(Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent.)

Net sales at retail for year	$	35,000
Beginning inventorycost	$	22,000
Beginning inventoryretail	$	44,000
Purchasescost	$	13,000
Purchasesretail	$	18,000

	Cost	Retail
Beginning inventory	$	$
Net purchases
Cost of goods available for sale	$	$
Less net sales at retail
Ending inventory at retail		$
Cost ratio		%
Ending inventory at cost		$

Mays Dress Shops inventory at cost on January 1 was $34,500. Its retail value was $54,500. During the year, May purchased additional merchandise at a cost of $194,100 with a retail value of $394,100. The net sales at retail for the year were $343,500.

Calculate Mays inventory at cost by the retail method. (Round the "cost ratio" to the nearest whole percent.)

	Cost	Retail
Beginning inventory	$	$
Purchases
Cost of goods available for sale	$	$
Less net sales for year
Ending inventory at retail		$
Cost ratio		%
Ending inventory at cost		$