Sheila’s company uses retail inventory method to estimate their ending inventory. For year 2015, here is the details for the company.     Cost Retail Beginning Inventory USD 76, 000 USD 138, 000 Purchases USD 290, 000 USD 510, 600 Ending Inventory ? USD 152, 000   What is the net sales for year 2015? What is the estimated COGS of Sheila’s company.

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Q: Make it

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Q: want answer please provide it

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.