Designs has three lines ofwomen's wear:Teenage, YoungWoman, and Mature. On May18, 2017, Maxine's Designs had a fire that destroyed the Teenage line of inventory. Sales for the period January 1 to May 18 for the Teenage line were $540,000. Inventory at January1, 2017, for the Teenage line was $99,000 (cost), $325,000 (retail). Purchases made from January 1 to May 18 for the Teenage line at cost were $270,000, and at retail were $740,000.

Use the retail method to calculate the cost of the inventory lost in the fire.

Maxine's Designs has three lines of women's wear: Teenage, Young Woman, and Mature. On May 18, 2017, Maxine's Designs had a fire that destroyed the Teenage line of inventory. Sales for the period January 1 to May 18 for the Teenage line were $540,000. Inventory at January 1, 2017, for the Teenage line was $99,000 (cost), ne $325,000 (retail). Purchases made from January 1 to May 18 for the Teenage line at cost were $270,000, and at retail were $740,000. Use the retail method to calculate the cost of the inventory lost in the fire. ts Use the retail method to calculate the cost of the inventory lost in the fire for the Teenage Line. izzes Teenage Line At Cost At Retail Beginning inventory Cost of goods purchased ext Goods available for sale Library Less: Sales at retail Ending inventory at retail sources Cost to retail ratio: 35% udy Modules Estimated ending inventory at cost Enter any number in the edit fields and then continue to the next