Question: please explain how to calculate this Chapter 6 Part II In-Class: Estimating ending inventory-Retail Method During 2014, Harmony Co. sold $520,000 of merchandise at At

please explain how to calculate this

Chapter 6 Part II In-Class: Estimating ending inventory-Retail Method During 2014, Harmony Co. sold $520,000 of merchandise at At Cost At Retail marked retail prices. At the end of 2014, the Goods available for sale: following information was available from its records: Beginning inventory At Cost At Retail Net purchases Beginning inventory 127,600 256,800 Goods available for sale Net purchases 231,240 393,600 Less: net sales at retail = Ending inventory Use the retail method to estimate Harmony's 2014 Use Same % ending inventory at cost. Round all calculations to two decimal places. J

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