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(10 points) Shoemaker Department Store prepares monthly financial statements but only takes a physical count of merchandise inventory at the end of the year. The

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(10 points) Shoemaker Department Store prepares monthly financial statements but only takes a physical count of merchandise inventory at the end of the year. The following information has been developed for the month of July: At Cost At Retail Beginning inventory Merchandise purchases $ 30,000 99,000 $ 50,000 150,000 The net sales for July amounted to $142,000. Instructions Use the retail inventory method to estimate the ending inventory at cost for July. Show all computations to support your

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