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At Johnson Co., the cost of goods available for sale during the period was $360,000. The total retail selling price for those goods was $600,000.

At Johnson Co., the cost of goods available for sale during the period was $360,000. The total retail selling price for those goods was $600,000. The company had retail sales of $480,000 during the period. What is the estimated cost of the unsold (ending) inventory, using the retail estimation method? $120,000 $96,000 $312,000 $72,000

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