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On the basis of the following data, what is the estimated cost of the merchandise inventory on May 31 using the retail method? Cost Retail
On the basis of the following data, what is the estimated cost of the merchandise inventory on May 31 using the retail method? Cost Retail May 01 Merchandise Inventory $23,410 $39,010 May 01-31 Purchases (net) $46,370 $74,970 May 01-31 Sales (net) $95,770 Select the correct answer. a. $20,530 b. $25,990 c. $11,148 d. $9,382
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