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Kicks Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is
Kicks Shoe Store uses the retail inventory method for its two departments, Women's Shoes and Men's Shoes. The following information for each department is obtained. Item Women's Shoes Men's Shoes Beginning inventory at cost $25,000 $45,000 Cost of goods purchased at cost Net sales 110,000 136,300 178,000 185,000 Beginning inventory at retail 46,000 60,000 Cost of goods purchased at retail 179,000 185,000 (a1) Calculate cost-to-retail ratio. (a1) Calculate cost-to-retail ratio. Women's Shoes Cost-to-retail ratio % Men's Shoes %
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