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Need help with this Manila Bread Company uses the average cost retail method to estimate its ending inventories for the year 2011 Cost $54,205 $326.000

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Manila Bread Company uses the average cost retail method to estimate its ending inventories for the year 2011 Cost $54,205 $326.000 Inventory, January 1 Purchases Net markups Net markdowns Net sales Retail $78,000 $466,000 8.200 16.700 12.000 Required: Estimate the ending inventory as of December 31, 2011

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