Dakota Company had net sales (at retail) of $150,000. At Cost $ 33,900 41,070 At Retail $ 66,200 100,400 Beginning inventory Cost of goods purchased The above additional information is available from its records. Use the retail inventory method to estimate Dakota's year-end inventory at cost. (Round cost ratio to the nearest whole percentage.) Beginning inventory Cost of goods purchased Net sales at retail $ $ At Cost 33,900 41,070 74,970 Cost-to-Retail Ratio $ $ At Retail 66,200 100,400 166,600

Dakota Company had net sales (at retail) of $150,000. The above additional information is available from its records. Use the retall inventory method to estimate Dakota's year-end inventory at cost. (Round cost ratio to the nearest whole percentage.) On January 1, JKR Shop had $510,000 of beginning inventory at cost. In the first quarter of the year, it purchased $1,650,000 of merchandise, returned $23,700, and paid freight charges of $38,200 on purchased merchandise, terms FOB shipping point. The company's gross profit averages 40%, and the store had $2,060,000 of net sales (at retail) in the first quarter of the year. Use the gross profit method to estimate its cost of inventory at the end of the first quarter