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Using the retail method, calculate the estimated value of ending inventory at cost for Anns Gifts. The cost of beginning inventory was $130,000 with a
Using the retail method, calculate the estimated value of ending inventory at cost for Anns Gifts. The cost of beginning inventory was $130,000 with a retail value of $190,000. Purchases during the year were $90,000 at cost and $135,000 at retail. Ann had sales $140,000 during the year.
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