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Problem1 : What is the estimated ending inventory at cost, using the retail method?
Ending inventory at selling price (retail): $53,500
A. $40,125
B. $71,155
C. $36,380
D. $39,050
Cost Selling Price
Beginning inventory $50,400 $67,900
Purchases 128,500 170,600
Goods available for sale $178,900 $238,500
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