Chs 1. Use the retail inventory method to estimate the company\'s year-end inven

Question

Chs 1. Use the retail inventory method to estimate the company's year-end inventory at cost. phiysical inventory at retall prices yields a total inventory of $1,678.800.Prepare a calculation showing the company's r answers in the tabs below Required 1 Required 2 Use the retail inventory method to estimate the company's year-end inventory at cost. (Round your ratio calculations to 2 decimal places. (i.e. 10.15%)) to Retail At Retail Ratio $ 471,650 3,492,255 $ 3,963,905 S 927450 6.279,650 55 00%is 7,207,100 Cost of goods purchased ost of goods available for sale Net sales at retail 55 00% Prev 1 of 1 Next to search

Explanation / Answer

Cost retail Ratio Beginning inventory 471650 927450 Purchases 3492255 6279650 Cost of goods available for sale 3963905 7207100 55% Less Net sales at retail 5453800 Ending inventory 964315 1753300 55%

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