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Accounting help Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows: The
Accounting help
Sparrow Company uses the retail inventory method to estimate ending inventory and cost of goods sold. Data for 2016 are as follows: The company records sales net of employee discounts. Discounts for 2016 totaled $4, 100. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retail inventory method and the average cost application.(Round your cost-to-retail percentage calculation to 2 decimal places.)Step by Step Solution
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