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Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data
Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of June 2021: Cost $ 85,000 274,000 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $132,000 510,000 26,000 37,000 530,000 The average cost-to-retail percentage is
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