Question
Apply the retail inventory method to estimate the ending inventory for XYZ Co., assuming the following information. Good available at retail selling price. $100000 Goods
Apply the retail inventory method to estimate the ending inventory for XYZ Co., assuming the following information.
Good available at retail selling price. $100000
Goods sold at retail prices $60000
Cost of goods sold is 70% of retail.
Cost of ending inventory ?
please show the steps.
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Financial And Managerial Accounting
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
4th Edition
1119752620, 978-1119752622
