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ail Method On the basis of the following data, estimate the cost of the inventory at June 30 by the retail method: Cost Retail June
ail Method
On the basis of the following data, estimate the cost of the inventory at June 30 by the retail method:
| Cost | Retail | |||
| June 1 | Inventory | $165,000 | $275,000 | |
| June 130 | Purchases (net) | 2,361,500 | 3,800,000 | |
| June 130 | Sales | 3,550,000 |
| Cost of the Inventory | |||
| June 30 | |||
| Cost | Retail | ||
| $fill in the blank 2 | $fill in the blank 3 | ||
| fill in the blank 5 | fill in the blank 6 | ||
| $fill in the blank 8 | $fill in the blank 9 | ||
| Ratio of cost to retail price: | fill in the blank 10% | ||
| fill in the blank 12 | |||
| $fill in the blank 14 | |||
| $fill in the blank 16 | |||
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Money And Wealth
Authors: Joslyn Pine
1st Edition
0486486389, 9780486486383
