During 2017, Harmony Co sold $520,000 of merchandise at marked retail prices At the end of 2017, the following information was available from its records Use the retail method to estimate Harmonys 2017 ending inventory at cost Round all calculations to two decimal places At Retail At Cost Beginning...

At Cost At Retail Goods available for sale Beginning inventory 12760000 25680000 ...

During 2017, Harmony Co. sold $520,000 of merchandise at marked retail prices. At the end of 2017,

Question:

During 2017, Harmony Co. sold $520,000 of merchandise at marked retail prices. At the end of 2017, the following information was available from its records:

At Retail At Cost Beginning inventory . Net purchases... $256,800 ........ $127,600 231,240 393,600

Use the retail method to estimate Harmony€™s 2017 ending inventory at cost. Round all calculations to two decimal places.

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 =...