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san lorenzo general store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold the following

san lorenzo general store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold the following data are available for the month of october 2016

beginging inventory cost 35,000 retail 50,000

net purchases cost 19,120 retail 31,600

net markups retail 1200

net markdowns retail 800

net sales retail 32,000

required

estimated the average cost of ending inventory and cost of goods sold for october.

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