On June 30, Faber's Fabrics has the following data pertaining to the retail inventory method: Goods available
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On June 30, Faber's Fabrics has the following data pertaining to the retail inventory method: Goods available for sale: at cost \(\$ 35,000\), at retail \(\$ 50,000\); net sales \(\$ 30,000\), and ending inventory at retail \(\$ 20,000\). Compute the estimated cost of the ending inventory using the retail inventory method.
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Related Book For
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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