Hawk Company's May 1 inventory had a cost of $58,900 and a retail value of $74,400. During

Question:

Hawk Company's May 1 inventory had a cost of $58,900 and a retail value of $74,400. During May, net purchases cost $255,800 with a retail value of $405,400. Net sales at retail for Hawk Company during May were $228,600. Calculate the at cost using the retail inventory method. (Round the cost ratio to the nearest hundredth percent.)
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 =...