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What is the cost of the ending inventory calculated

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Question

A company reports the following information regarding its inventory.

Beginning inventory: cost is $80,000; retail is $130,000

Net purchases: cost is $65,000; retail is $120,000

Sales at retail: $145,000

The year-end inventory shows $135,000 worth of merchandise available at retail prices. What is the cost of the ending inventory calculated using the retail inventory method?

Reference no: EM132338302

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