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From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. Note: Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent. Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail Beginning inventory Net purchases Cost of goods available for sale Less net sales at retail i Ending inventory at retail Cost ratio Ending inventory at cost $ 35,500 $ 22,500 $ 44,500 $ 13,100 $ 18,100 Cost Retail

From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. Note: Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent. Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail Beginning inventory Net purchases Cost of goods available for sale Less net sales at retail i Ending inventory at retail Cost ratio Ending inventory at cost $ 35,500 $ 22,500 $ 44,500 $ 13,100 $ 18,100 Cost Retail

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. Note: Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent. Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail Beginning inventory Net purchases Cost of goods available for sale Less net sales at retail Ending inventory at retail Cost ratio Ending inventory at cost $ 35,500 $ 22,500 $ 44,500 $ 13,100 $ 18,100 Cost Retail %
Transcribed Image Text:From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. Note: Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent. Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail Beginning inventory Net purchases Cost of goods available for sale Less net sales at retail Ending inventory at retail Cost ratio Ending inventory at cost $ 35,500 $ 22,500 $ 44,500 $ 13,100 $ 18,100 Cost Retail %
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