Use the information provided to compute the ending inventory using the retail method.  Sales $800,000; Goods available for sale at Cost $500,000 and at retail $1,000,000.    $400,000 None of the choices are correct. $300,000 $200,000 $100,000

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A: Inventory turnover ratio is a measure that shows efficiency of inventory management by a company.

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A: Inventory means the detailed list or stock of items, goods, or materials held by a business or…

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A:

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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.