Question
Stanojev Co. uses a periodic inventory system and the retail inventory method to estimate ending inventory and COGS. The following data are available for the
Stanojev Co. uses a periodic inventory system and the retail inventory method to estimate ending inventory and COGS. The following data are available for the month of April 2020:
Cost Retail
Beginning inventory $35,000 $89,000
Net purchases 21,000 51,000
Net sales 52,000
What is the estimated cost of ending inventory for April?
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Auditing Information Systems
Authors: Jack J. Champlain
2nd Edition
0471281174, 978-0471281177
