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E 9-16 Conventional retail method; normal spoilage LO9-3, LO9-4 Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of
E 9-16 Conventional retail method; normal spoilage LO9-3, LO9-4 Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available: Cost Beginning inventory $12,000 102,600 3,480 4,000 Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales Retail $20,000 165,000 7,000 6,000 3,000 4,200 152,000 Required: Estimate the ending inventory and cost of goods sold, applying the conventional retail method using the information provided. 
E 9-16 Conventional retail method; normal spoilage LO9-3, O9-4 Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available: Required: Estimate the ending inventory and cost of goods sold, applying the conventional retail method using the information provided
E 9-16 Conventional retail method; normal spoilage LO9-3, LO9-4 Almaden Valley Variety Store uses the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available: Cost Beginning inventory $12,000 102,600 3,480 4,000 Purchases Freight-in Purchase returns Net markups Net markdowns Normal spoilage Net sales Retail $20,000 165,000 7,000 6,000 3,000 4,200 152,000 Required: Estimate the ending inventory and cost of goods sold, applying the conventional retail method using the information provided.
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