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Bramble Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained.
Bramble Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained. Women's Men's Item: Shoes Shoes Beginning inventory at cost $24,000 $48,000 Cost of goods purchased at cost 125,410 147,000 Net sales 176,000 187,000 Beginning inventory at retail 46,000 63,000 Cost of goods purchased at retail 177,000 187,000 (a1) Calculate cost-to-retail ratio. (a2) Compute the estimated cost of the ending inventory for each department under the retail inventory method. Women's Shoes Estimated cost of ending inventory $ eTextbook and Media Men's Shoes
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