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From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. (Round the cost ratio
From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. (Round the cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent.) Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail NS 46,000 $ 33,000 $ 55,eee $ 15,200 $ 20,200 Retail Cost 55,000 33,000 15.200 Beginning inventory Net purchases 20.200 75,200 48,200 S Cost of goods available for sale 46,000 Less net sales at retail 29,200 Ending inventory at retail Cost ratio $ Ending inventory at cost
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