Question
Universal Suppliers had sales of $471,000 in the month of June. Use the retail method to estimate the value of the inventory (in $) as
Universal Suppliers had sales of $471,000 in the month of June. Use the retail method to estimate the value of the inventory (in $) as of June 30 given the following financial information:
| Cost | Retail | |
|---|---|---|
| Beginning Inventory | $308,371 | $587,900 |
| Net Purchases (June) | 153,785 | 222,900 |
$ ?
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International Finance Theory And Policy
Authors: Paul Krugman, Maurice Obstfeld, Marc Melitz
12th Global Edition
1292417005, 978-1292417004
