Retail method This method of estimating cost of inventory requires cost and retail prices to be maintained for goods available for sale. The ending inventory cost is estimated by converting ending inventory at retail using ratio of cost to retail price. To determine: the amount of inventory to be reported under retail method.

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Chapter 6, Problem 6.22EX

To determine

Retail method

This method of estimating cost of inventory requires cost and retail prices to be maintained for goods available for sale. The ending inventory cost is estimated by converting ending inventory at retail using ratio of cost to retail price.

To determine: the amount of inventory to be reported under retail method.

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