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Find the conventional cost-to-retail percentage

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Question - Willie Nelson's Boots uses the conventional retail method to estimate ending inventory. Cost data for the most recent quarter is shown below:

Cost Retail Beginning inventory $62,000 $79,000

Net purchases 170,000 247,000

Net markups 38,000

Net markdowns 51,000

Net sales 236,000

Required - Find the conventional cost-to-retail percentage?

Reference no: EM132955063

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