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June 30, Lily Fabrics On June 30, Lily Fabrics has the following data pertaining to the retail inventory method. Goods available for sale: at cost
June 30, Lily Fabrics
On June 30, Lily Fabrics has the following data pertaining to the retail inventory method. Goods available for sale: at cost $37.100; at retail $53,000; net sales $39,100; and ending inventory at retail $13,900. Compute the estimated cost of the ending inventory using the retail inventory method. The estimated cost of the ending inventory Step by Step Solution
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