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The Matt Company has been in operation since January 1, 2004. The following information regarding their operations is available to determine the value of ending
The Matt Company has been in operation since January 1, 2004. The following information regarding their operations is available to determine the value of ending inventory at year end: Cost Retail Beginning inventory $16,800 $31,600 Net purchases 47,500 94,500 Sales 89,000 The company calculates ending inventory by applying the retail method. The ending inventory at cost is
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