Solution-Compute the estimated cost of the ending inventory

Compute the estimated cost of the ending inventory

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Reference no: EM132995978

Question - Dan's Threads uses the retail inventory method for its two departments, Men's Clothes and Women's Clothes. The following information for each department is obtained.

Item	Men's Dept.	Women's Dept.
Beginning inventory at cost	$40,000	$50,000
Cost of goods purchased at cost	160,160	175,700
Net sales	192,000	245,000
Beginning inventory at retail	58,000	65,000
Cost of goods purchased at retail	220,000	240,000

Required - Compute the estimated cost of the ending inventory for each department under the retail inventory method.

Reference no: EM132995978

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Compute the estimated cost of the ending inventory

Reference no: EM132995978

Reference no: EM132995978

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