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Discuss retail method to estimate the value of the inventory

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Best Price Retailers had sales of $497,100 in the month of January. Use the retail method to estimate the value of the inventory as of January 31 given the following financial information:

(Round cost ratio to four decimal places)

Sticker Price Retailer's
Financial Highlights
January 1 - January 31
    Cost Retail
Beginning Inventory   $229,276 $315,500
Net Purchases (January)   362,161 451,800
Total available for sale

Reference no: EM131757398

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