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On June 30, Crane Fabrics has the following data pertaining to the retail inventory method. Goods available for sale: at cost $49,600; at retail $62,000;
On June 30, Crane Fabrics has the following data pertaining to the retail inventory method. Goods available for sale: at cost $49,600; at retail $62,000; net sales $51,600; and ending inventory at retail $10,400. Compute the estimated cost of the ending inventory using the retail inventory method. The estimated cost of the ending inventory
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