Question: Use the retail inventory method to calculate the ending inventory for an organisation which has: o an opening inventory at cost of $750 000 and

Use the retail inventory method to calculate the ending inventory for

Use the retail inventory method to calculate the ending inventory for an organisation which has: o an opening inventory at cost of $750 000 and a retail value of $1 900 000 o purchases for the year totalled at cost $650 000 and the retail value of the purchases is $900 000 o sales for the year at retail price totalled $2 450 000

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