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Don's Dairy had sales of $271,000 in the month of March. Use the retail method to estimate the value of the inventory as of March 31 given the following financial information. (Round cost ratio to four decimal places.) March 1 to March 31 COST RETAIL Beginning Inventory $241,700 $291,800 Net Purchases (March) 220,380 275,200 Goods Available for Sale $462,080 O $220,865.00 O $224,288.00 O $241,240.00 O $376,595.20

Don's Dairy had sales of $271,000 in the month of March. Use the retail method to estimate the value of the inventory as of March 31 given the following financial information. (Round cost ratio to four decimal places.) March 1 to March 31 COST RETAIL Beginning Inventory $241,700 $291,800 Net Purchases (March) 220,380 275,200 Goods Available for Sale $462,080 O $220,865.00 O $224,288.00 O $241,240.00 O $376,595.20

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Don's Dairy had sales of $271,000 in the month of March. Use the retail method to estimate the value of the inventory as of March 31 given the following financial information. (Round cost ratio to four decimal places.) March 1 to March 31 COST RETAIL Beginning Inventory $241,700 $291,800 Net Purchases (March) 220,380 275,200 Goods Available for Sale $462,080 O $220,865.00 O $224,288.00 O $241,240.00 O $376,595.20
Transcribed Image Text:Don's Dairy had sales of $271,000 in the month of March. Use the retail method to estimate the value of the inventory as of March 31 given the following financial information. (Round cost ratio to four decimal places.) March 1 to March 31 COST RETAIL Beginning Inventory $241,700 $291,800 Net Purchases (March) 220,380 275,200 Goods Available for Sale $462,080 O $220,865.00 O $224,288.00 O $241,240.00 O $376,595.20
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