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Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2021, is
Posted: Fri Jul 01, 2022 8:21 am
by answerhappygod
- Andover Stores Uses The Average Cost Retail Method To Estimate Its Ending Inventory Information As Of June 30 2021 Is 1 (71.2 KiB) Viewed 56 times
Andover Stores uses the average cost retail method to estimate its ending inventory. Information as of June 30, 2021, is as follows: Beginning inventory Net purchases Net sales Cost $ 54,000 254,000 Estimated ending inventory (At Retail) Estimated ending inventory (At Cost) Retail $ 91,000 409,000 409,000 Required: Use the retail method to estimate the June 30, 2021, inventory. (Round "Cost-to-retail percentage" to 1 decimal place.)