DK Super Stores Inc. uses the average cost retail method to estimate its ending inventory. Information at
Question:
DK Super Stores Inc. uses the average cost retail method to estimate its ending inventory. Information at June 30, 2006 is as follows:
Required:
Compute the cost-to-retail percentage used byDK.
Transcribed Image Text:
Cost Beginning Inventory Net Purchases Net Sales Ending Inventory Retail S105,000 375,000 380,000 64000
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