The records of Earthly Goods provided the following information for the year ended December 31, 2014. Required:
Question:
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Required:
1. Prepare an estimate of the company's year-end inventory by the retail method. Round all calculations to two decimal places.
2. Under the assumption the company took a year-end physical inventory at marked selling prices that totaled $1,675,800, prepare a schedule showing the store's loss from theft or other causes at cost and at retail.
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Part 2 Estimated loss at retail 1755400 1675800 79600 79600 52 41392 Goods available for ...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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