Principles of Accounting: Chapters 1-13
Principles of Accounting: Chapters 1-13
12th Edition
ISBN: 9781133593102
Author: Belverd E., Jr, Ph.d. Needles, Marian, Ph.D. Powers, Susan V. Crosson
Publisher: Cengage Learning
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Chapter 7, Problem 4P

1

To determine

Compute the ending inventory at cost using the retail method.

2

To determine

Determine the manner of reducing the retail value at store using the cost to retail ratio.

3

To determine

Compute the amount of shrinkage at cost and retail.

4

To determine

Analyze the reasons for efficiency in using the retail method by the retail chains.

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