Based on the above data, calculate the estimated cost of the merchandise inventory on October 31 using the retail method. (round to one decimal place) October 1 October 1-31 October 1-31 Merchandise inventory Purchases (net) Sales Cost $1.836,500 3,455,245 Retail $3,159,600 5,212,750 6,895,000

Based on the above data, calculate the estimated cost of the merchandise inventory on October 31 using the retail method. (round to one decimal place) Cost Retail October 1 Merchandise inventory $1.836,500 $3,159,600 October 1-31 Purchases (net) October 1-31 Sales 3,455,245 5,212,750 6,895,000