1. A retail company has goods available for sale of $500,000 at retail and $200,000 at cost and ending inventory of $57,000 at retail. what is the estimated cost of goods sold.
2. A company has cost of goods available for sale of $250,000, Sales of $305,000 and a gross profit percentage of 30 percent. Using gross profit method, what is ending inventory.
3. A retail store has goods available for sale of $2 million at retail and $1,100,000 at cost, and ending inventory of $160,000 at retail. What is the estimated cost of ending inventory? please give me an Answere and description.