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Dollar Dress Shop's inventory at cost on January 1 was $82,800. Its retail value was $87,500. During the year, Dollar purchased additional merchandise at a
Dollar Dress Shop's inventory at cost on January 1 was $82,800. Its retail value was $87,500. During the year, Dollar purchased additional merchandise at a cost of $300,000 with a retail value of $325,000. The net sales at retail for the year were $295,000. Calculate Dollar's inventory at cost by the retail method.(Round the cost ratio to the nearest whole percent.)
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