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Complete the following schedule by using the retail method to estimate ending inventory for September and October. GIVEN DATA October Cost Retail September Cost Retail
Complete the following schedule by using the retail method to estimate ending inventory for September and October. GIVEN DATA October Cost Retail September Cost Retail $ 106,000 $ 155,000 600,000 950,000 550,000 1,000,000 Beginning inventory..... Cost of goods purchased. Goods available for sale Less: Net sales at retail... Ending inventory at retail Cost of retail ratio Estimated ending inventory 780,000 820,000
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