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Problem - Metlock Beachwear Inc. had beginning inventory of $32,000 at cost and $38,400 at retail. Net purchases were $168,000 at cost and $195,200 at retail. Net markups were $4,800, net markdowns were $14,400, and sales revenue was $184,000. Compute ending inventory at cost using the conventional retail method.
this assignment is designed to not only to give students an opportunity to practice concepts learned in class but also
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