Question: Question 3 15 pts Based on the above data, calculate the estimated cost of the merchandise inventory on October 31 using the retail method.

Question 3 15 pts Based on the above data, calculate the estimated

Question 3 15 pts Based on the above data, calculate the estimated cost of the merchandise inventory on October 31 using the retail method. (round to one decimal place) Cost Retail October 1 Merchandise inventory $1.836,500 $3,159,600 October 1-31 Purchases (net) October 1-31 Sales 3,455,245 5,212,750 6,895,000

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