SWFT Comprehensive Volume 2019
42nd Edition
ISBN: 9780357233306
Author: Maloney
Publisher: Cengage
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The level of inventory of a manufacturered product solve this accounting questions
Kindly help me with accounting questions
The following information is provided by Raynette's Pharmacy for the
last quarter of its fiscal year ending on March 31, 20--:
Cost
Retail
Inventory, start of the period, January 1, 20--
$ 33,700
$52,600
1,71,635 2,63,300
2,60,700
Net purchases during the period
Net sales for the period
1. Estimate the ending inventory as of March 31 using the retail
inventory method.
2. Estimate the cost of goods sold for the time period January 1 through
March 31 using the retail inventory method.
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