Please do not give solution in image format thanku Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. Thefollowing data is available from the company records for the month of June 2024:Beginning inventoryNet purchasesNet markupsNet markdownsNet salesMultiple Choice$73,991.$71,052.The estimated ending inventory is:Note: Round cost-to-retail ratio to 2 decimal places.O $76,302Cost$ 115,000367,000$73,118Retail$144,000570,00032,00049,000590,000

Name: Please do not give solution in image format thanku Marilee's Electroni
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Description: Please do not give solution in image format thanku Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. Thefollowing data is available from the company records

The ending inventory is calculated as the cost of goods available for sale less cost of goods sold.…

Business

Accounting

Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cos following data is available from the company records for the month of June 2024: Cost Beginning inventory $ 115,000 367,000 Net purchases Net markups Net markdowns Net sales. Retail $144,000 570,000 32,000 49,000 590,000 The estimated ending inventory is: Note: Round cost-to-retail ratio to 2 decimal places.

Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cos following data is available from the company records for the month of June 2024: Cost Beginning inventory $ 115,000 367,000 Net purchases Net markups Net markdowns Net sales. Retail $144,000 570,000 32,000 49,000 590,000 The estimated ending inventory is: Note: Round cost-to-retail ratio to 2 decimal places.

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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