Question: The company reported the following information relating to inventory for the month of April: Sales for the month totaled $80,000. Compute the estimated cost of

The company reported the following information relating to inventory for the month of April:


The company reported the following information relating to inven


Sales for the month totaled $80,000. Compute the estimated cost of inventory on hand at the end of the month using the average costassumption.

Cost Retail Inventory, January I Purchases in January Markups Markdowns .._^... $25,000 50,000 40,000 70,000 30,000 (25,000)

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