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Calculate Nougaro Inc inventory value at the end of year

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Question - Nougaro Inc., a public company, uses the retail method to estimate inventory. Information relating to its inventory for the year is as follows:

Cost Retail

Inventory, beginning of year $850,000 $1,400,000

Purchases 2,950,000 4,600,000

Freight-in 135,000 -

Sales 4,650,000

Net markups 340,000

Net markdowns 125,000

Required - Calculate Nougaro Inc.'s inventory value at the end of the year?

Reference no: EM133074086

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