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Reilly Corporation uses the conventional retail method for financial reporting. The company's inventory records are summarized below. (Click the icon to view the inventory records.)
Reilly Corporation uses the conventional retail method for financial reporting. The company's inventory records are summarized below. (Click the icon to view the inventory records.) Estimate Reilly's ending inventory using the conventional retail method. (Round percentages to two decimal places, X.XX%.) Complete the partial table below to determine the cost-to retail ratio. In the following step, complete the table by selecting the labels and entering the amounts needed to estimate Reilly's ending inventory using the conventional retail method. (If a box is not used in the table, enter a zero; do not leave the box empty. Round the cost-to-retail ratio to two decimal places, X.XX%. Round all currency amounts to the nearest whole dollar. LCM = lower of cost-or-market)
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