Fullerton Companys October 1 inventory had a cost of $58,200 and a retail value of $76,000. During

Question:

Fullerton Company’s October 1 inventory had a cost of $58,200 and a retail value of $76,000. During October, net purchases cost $231,000 with a retail value of $406,000. Net sales at retail for Fullerton Company during October were $229,000. Calculate the at cost using the retail inventory method.

Ending Inventory
The 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 =...