Based on the following data, compute the estimated cost of the ending inventory at Crowley Company. Use
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Based on the following data, compute the estimated cost of the ending inventory at Crowley Company. Use the retail method.
________________________Cost___________Retail
Beginning inventory.........$215,000............$339,000
Purchases........................325,000..............490,000
Freight in...........................2,100........................
Sales....................................................507,000
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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Related Book For 
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
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