Victoria Falls Company, Inc., records show the following account balances for the year ending December 31, 1999:

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Using these data, compute the estimated cost of ending inventory using the retail method of inventory valuation.

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Financial Accounting A Business Perspective

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Authors: Roger H. Hermanson, James Don Edwards

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Victoria Falls Company, Inc., records show the following account balances for the year ending December 31, 1999:

Question:

Cost Retail Beginning inventory Purchases Transportation-in. Sales... $42,000 $57,500 25,000 37,500 500 52,500

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Financial Accounting A Business Perspective

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