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Calculate dollar inventory at cost by the retail method

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Reference no: EM132928200

Question - Dollar Dress Shop's inventory at cost on January 1 was $82,800. Its retail value was $87,500. During the year, Dollar purchased additional merchandise at a cost of $300,000 with a retail value of $325,000. The net sales at retail for the year were $295,000. Calculate Dollar's inventory at cost by the retail method.

Reference no: EM132928200

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