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A business using the retail method of inventory costing determines that inventory at retail is $940,000. If the ratio of cost to retail price is

A business using the retail method of inventory costing determines that inventory at retail is $940,000. If the ratio of cost to retail price is 60%, what is the amount of inventory to be reported on the financial statements?

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A business using the retail method of inventory costing determines that inventory at retail is $940,000. If the ratio of cost to retail price is 60%, what is the amount of inventory to be reported on the financial statements

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