RETAIL METHOD. Marys Bargains has the following data available for a recent year: REQUIRED: 1. Determine the

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RETAIL METHOD. Mary’s Bargains has the following data available for a recent year:

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REQUIRED:
1. Determine the cost ratio.
2. Determine the dollar amount of ending inventory at retail.
3. Determine the cost of ending inventory.
4, Determine cost of goods sold.

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Financial Accounting

ISBN: 9780070213555

5th Edition

Authors: Robert K. Eskew, Daniel L. Jensen

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Question Posted: Jun 14, 2024 01:20 AM

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RETAIL METHOD. Marys Bargains has the following data available for a recent year: REQUIRED: 1. Determine the

Question:

Beginning inventory Purchases AT COST AT RETAIL $ 63,000 $ 86,000 477,000 634,000 Cost of goods available for sale $540,000 $720,000 Sales for the year were $640,000. Mary's Bargains uses the retail method.

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Financial Accounting

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