{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T00:09:45-04:00", "answer_date": "2024-05-27 00:09:45", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1767626", "url": "\/study-help\/questions\/retail-inventory-method-the-following-information-is-provided-by-raynettes-1767626", "question_creation_date_js": "2024-05-27T00:09:45-04:00", "question_creation_date": "May 27, 2024 12:09 AM", "meta_title": "[Solved] Retail Inventory Method The following inf | SolutionInn", "meta_description": "Answer of - Retail Inventory Method The following information is provided by Raynette's Pharmacy for the last quarter of its fisca | SolutionInn", "meta_keywords": "retail,inventory,method,information,provided,raynette,s,pharmacy,quarter,fiscal,year,ending", "question_title_h1": " 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--:", "question_title": " Retail Inventory Method The following information is provided by Raynette's Pharmacy", "question_title_for_js_snippet": "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 Inventory, start of period, January 1, 20 $33,700 $50,900 Net purchases during the period 172,572 271,400 256,800 Net sales for the period Required 1 Estimate the ending inventory as of March 31 using the retail inventory method $ 16,292 X 2 Estimate the cost of goods sold for the time period January 1 through March 31 using the retail inventory method 189,980 X", "question_description": "\"image", "transcribed_text": "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 Inventory, start of period, January 1, 20-- $33,700 $50,900 Net purchases during the period 172,572 271,400 256,800 Net sales for the period Required: 1. Estimate the ending inventory as of March 31 using the retail inventory method. $ 16,292 X 2. Estimate the cost of goods sold for the time period January 1 through March 31 using the retail inventory method. 189,980 X", "related_book": { "title": "Accounting Tools for business decision making", "isbn": "978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461", "edition": "4th Edition", "authors": "kimmel, weygandt, kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/107.jpg", "uri": "\/textbooks\/accounting-tools-for-business-decision-making-4th-edition-107", "see_more_uri": "" }, "free_related_book": { "isbn": "0932206387", "uri": "\/textbooks\/early-puebloan-occupations-at-tesuque-by-pass-and-in-the-upper-rio-grande-valley-1st-edition-9780932206381-139658", "name": "Early Puebloan Occupations At Tesuque By Pass And In The Upper Rio Grande Valley", "edition": "1st Edition" }, "question_posted": "2024-05-27 00:09:45", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/microeconomics-principles\/one-type-of-systematic-error-arises-because-people-tend-to", "description": "One type of systematic error arises because people tend to think of benefits in percentage terms rather than in absolute dollar amounts. 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