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please help? Retail Inventory Method The following information is provided by Raynette's Pharmacy for the last quarter of its fiscal year ending on March 31,
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Retail Inventory Method The following information is provided by Raynette's Pharmacy for the last quarter of its fiscal year ending on March 31, 20--: Cost Retail $29,700 $52,600 Inventory, start of period, January 1, 20-- Net purchases during the period Net sales for the period 160,080 263,700 261,300 Required: 1. Estimate the ending inventory as of March 31 using the retail inventory method. $ 818,600 X 2. Estimate the cost of goods sold for the time period January 1 through March 31 using the retail inventory method. $818,600 XStep by Step Solution
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