Hobbs Companys March 1 inventory had a cost of $58,600 and a retail value of $74,800. During

Question:

Hobbs Company’s March 1 inventory had a cost of $58,600 and a retail value of $74,800. During March, net purchases cost $253,400 with a retail value of $405,200. Net sales at retail for Hobbs Company during March were $228,200. Calculate the at cost using the retail inventory method. (Round the cost ratio to the nearest hundredth percent.) Discuss. 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 =...