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17. EX.06.184.ALGO (Algorithmic) A business using the retail method of inventory costing determines that inventory at retail is $580,200. If the ratio of cost to

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17. EX.06.184.ALGO (Algorithmic) A business using the retail method of inventory costing determines that inventory at retail is $580,200. If the ratio of cost to retail price is 53%, what is the amount of inventory to be reported on the financial statements? The maturity value of a $180,000, 8%, 40-day note receivable dated July 3 is a. $186,400 b. $194,400 c. $181,600 d. $180,000

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