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(LO5) (Retail Inventory Method) Presented below is information related to McKenna Company. Cost Retail Beginning inventory Purchases (net) Net markups Purchase Discounts Net markdowns Freight

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(LO5) (Retail Inventory Method) Presented below is information related to McKenna Company. Cost Retail Beginning inventory Purchases (net) Net markups Purchase Discounts Net markdowns Freight Sales S91,000 150,000 196,000 10000 7000 405,000 56,000 15000 72,000 370,000 Instructions (a) Compute the ending inventory at retail. (LO3) (Relative Sales Value Method) During 2017, Action Toys Company purchases a warchouse of Toy

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