What would be the estimated cost of the ending inventory?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Answer: 5,250,000

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EEE Company uses the first-in, first-out retail method of inventory valuation. The
following information is available:
Cost
P 2,500,000
13,500,000
Retail
4,000,000
16,000,000
3,000,000
1,000,000
Beginning inventory
Purchases
Net markups
Net markdowns
Sales
15,000,000
What would be the estimated cost of the ending inventory?
Transcribed Image Text:EEE Company uses the first-in, first-out retail method of inventory valuation. The following information is available: Cost P 2,500,000 13,500,000 Retail 4,000,000 16,000,000 3,000,000 1,000,000 Beginning inventory Purchases Net markups Net markdowns Sales 15,000,000 What would be the estimated cost of the ending inventory?
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