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Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2016, is as follows: Cost Retail Beginning
Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2016, is as follows:
| Cost | Retail | |
| Beginning inventory | $45,000 | $82,000 |
| Net purchases | 245,000 | 418,000 |
| Net sales | 400,000 |
Required: Use the retail method to estimate the June 30, 2016, inventory.
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Quality Audits For Improved Performance
Authors: Dennis R. Arter
2nd Edition
0873892631, 978-0873892636
