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Doc's Discount November 1 November 30 Cost Retail Beginning Inventory, November 1 $40,000 $64,000 Purchases $245,000 $392,000 Net Sales $380,000 Using the retail method, estimate
Doc's Discount November 1 November 30
|
| Cost | Retail |
Beginning Inventory, November 1 |
| $40,000 | $64,000 |
Purchases |
| $245,000 | $392,000 |
Net Sales | $380,000 |
|
|
Using the retail method, estimate the value of the ending inventory at cost on November 30. (Round the cost ratio to the nearest tenth of a percent)
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