what is the estimated cost of ending inv

Get step-by-step answers I boren wettion (Expires in 2 49:36) PROBLEMS Problem 14-1 (AICPA Adapted) year-end: Sublime, Company showed the following information at Beginning inventory Cost Retail Sales 280,000 Purchases 700,000 5,000,000 Freight in 2,480,000 Markup 75,000 5,160,000 Markup cancelation 500,000 Markdown 60,000 Markdown cancelation 250,000 Estimated normal shrinkage is 2% of sales. .50,000 The entity used the conservative retail inventory method in estimating the value of inventory. What is the estimated cost of ending inventory? a. 460,000 b. 450,000 C. 495,000 d. 506,000 Problem 14-2 (AICPA Adapted) Abscond Company used the retail inventory method to estimate inventory for interim statement purposes. The entity provided the following information for the current Par