Question
In 2017, Dakota Company had net sales (at retail) of $131,000. At Cost At Retail Beginning inventory $ 32,000 $ 64,300 Cost of goods purchased
In 2017, Dakota Company had net sales (at retail) of $131,000.
| At Cost | At Retail | |||||||
| Beginning inventory | $ | 32,000 | $ | 64,300 | ||||
| Cost of goods purchased | 59,168 | 98,500 | ||||||
The above additional information is available from its records at the end of 2017. Use the retail inventory method to estimate Dakota's 2017 ending inventory at cost. (Round cost ratio to the nearest whole percentage.)
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav
14th Edition
978-0132960649, 132960648, 132109174, 978-0132109178
