Question
Wallto-Wall Records' April 1 inventory had a cost of $48,000 and a retail value of $70,000. During April, net purchases cost $210,000 with a retail
Wallto-Wall Records' April 1 inventory had a cost of $48,000 and a retail value of $70,000. During
April, net purchases cost $210,000 with a retail value of $390,000. Net sales at retail for Wall-to-Wall
Records for April were $280,000. Calculate the cost of ending inventory using the retail inventory
method
(Round to the nearest hundredth percent.)
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
