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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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