Exercise 6-13 Estimating ending inventory-retail method LO6 During 2023, Harmony Co. sold $522,000 of merchandise at marked retail prices. At the end of 2023, the following information was available from its records: Beginning inventory Net purchases At Cost At Retail $258,800 395,600 Ending inventory $129,600 233,240 Use the retail method to estimate Harmony's 2023 ending inventory at cost. (Round your intermediate and final answers to 2 decimal places.) hs
Exercise 6-13 Estimating ending inventory-retail method LO6 During 2023, Harmony Co. sold $522,000 of merchandise at marked retail prices. At the end of 2023, the following information was available from its records: Beginning inventory Net purchases At Cost At Retail $258,800 395,600 Ending inventory $129,600 233,240 Use the retail method to estimate Harmony's 2023 ending inventory at cost. (Round your intermediate and final answers to 2 decimal places.) hs
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section20.3: Estimating Inventory
Problem 1OYO
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