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Presented below is information related to Bobby Engram Company. Compute the ending inventory at retail. Compute a cost-to-retail percentage under the following conditions. (Round ratios
Presented below is information related to Bobby Engram Company. Compute the ending inventory at retail. Compute a cost-to-retail percentage under the following conditions. (Round ratios to 2 decimal places, e.g. 78.74%) Which of the methods in (b) above does the following? Compute ending inventory at lower-of-cost-or-market. (Round ratio to 2 decimal places, e.g. 78.74% and final answer to 0 decimal places, e.g. 6,225.) Compute cost of goods sold based on (d). (Round answer to 0 decimal places, e.g. 6,225.) Compute gross margin based on (d). (Round answer to 0 decimal places, e.g. 6,225.)
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