Then - Goods Available for Sale $ 258,000 430,000 Net Sales...

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Then, the estimated cost of ending inventory is found by multiplying the retail value of  ending inventory by the cost-to-retail ratio. Cost Retail Beginning Inventory $ 49,000 80,000 Purchases 209,000 350,000
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Unformatted text preview: Goods Available for Sale $ 258,000 430,000 Net Sales 400,000 Ending Inventory (Retail) $ 30,000 Cost to Retail Ratio ($ 258,000 + $ 430,000 = 60%) Ending Inventory (Cost) ($ 30,000 60%) $ 18,000...
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This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.

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