Question: Sheffield Department Store utilizes the retail inventory method to estimate its inventories. It calculated its cost to retall ratlo during the period at 8 5

Sheffield Department Store utilizes the retail inventory method to estimate its

Sheffield Department Store utilizes the retail inventory method to estimate its inventories. It calculated its cost to retall ratlo during the period at

85 % .

Goods avallable for sale at retall amounted to $

560000

and goods were sold during the period for $

429000 .

The estimated cost of the ending inventory is

131000 .

476000 .

111350 .

364650 .

inventories. It calculated its cost to retall ratlo during the period at

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