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please answer both questions in 10 min thanks Cost Retail Beginning inventory $312000 $476000 Purchases 1150000 1700000 Freight-in 17000 Employee discounts 7000 Net markups 57000

please answer both questions in 10 min thanks image text in transcribed
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Cost Retail Beginning inventory $312000 $476000 Purchases 1150000 1700000 Freight-in 17000 Employee discounts 7000 Net markups 57000 Net markdowns 76000 Sales revenue - 1620000 The approximate cost of the ending inventory by the conventional retail method is (Hint:Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to decimal places.) $351920 $530000 $388000, $798193 Amarkup of 20% on cost is equivalent to what markup on selling price? 20.00% 16.70% 80.00% 83.30%

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