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Complete the following schedule by using the retail method to estimate ending inventory for September and October. September October Cost Retail Cost Retail Beginning inventory..
| Complete the following schedule by using the retail method to estimate ending inventory for September and October. | |||||||||||
| September | October | ||||||||||
| Cost | Retail | Cost | Retail | ||||||||
| Beginning inventory.. | $106,000 | $155,000 | |||||||||
| Cost of goods purchased. | 600,000 | 950,000 | 550,000 | 1,000,000 | |||||||
| Goods available for sale | |||||||||||
| Less: Net sales at retail.. | 780,000 | 820,000 | |||||||||
| Ending inventory at retail | |||||||||||
| Cost of retail ratio | |||||||||||
| Estimated ending inventory | |||||||||||
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International Business
Authors: Ricky W. Griffin, Michael W. Pustay
9th Edition
013489877X, 978-0134898773
