Question: Using the retail method and the following data, estimate the cost of ending inventory. Cost Retail Beginning inventory $324,000 $530,000 Cost of goods purchased 195,000

Using the retail method and the following data, estimate the cost of ending inventory.

Cost

Retail

Beginning inventory

$324,000

$530,000

Cost of goods purchased

195,000

335,000

Net sales

320,000

Product

Units

Unit Recorded Cost

Unit Market Cost

A

20

$ 6

$ 5

B

40

9

8

C

10

12

15

Do not copy from Chegg otherwise i have to report

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