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2.) A company uses the retail inventory method and has the following information available concerning its most recent accounting period: Beginning-of-period inventory Net purchases Sales
2.) A company uses the retail inventory method and has the following information available concerning its most recent accounting period: Beginning-of-period inventory Net purchases Sales At Cost $148,600 677,400 At Retail $245,200 1,229,800 1,200,000 1. What is the cost-to-retail ratio using the retail method? 2. What is the estimated cost of the ending inventory
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