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Compute the estimated cost of ending merchandise

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Question - Octave Company had the following cost and retail pricing on its merchandise inventory.

 

Cost

Retail

Beginning Merchandise Inventory     

$150,000

$187,500

Net Purchases                                          

712,5000

890,625

The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.

Reference no: EM132031064

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