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ACC 301 Retail Inventory Method Mosley Company's accounting records disclosed the following. Cost Retail Beginning inventory. 58,000 100,000 Purchases (net) 122,000 200,000 Net markups

ACC 301 Retail Inventory Method Mosley Company's accounting records disclosed the following. Cost Retail Beginning inventory. 58,000 100,000 Purchases (net) 122,000 200,000 Net markups 10,435 Net markdowns 36,135 186,000 Sales revenue Required: a. Use the conventional (average cost) retail method to determine the cost and retail of the ending inventory. b. Use the conventional (LCM) retail method to determine the cost and retail of the ending inventory.

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