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What is the the? cost-to-retail ratio for the? company

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Question: Use the following information for the two questions below. Manny Corporation? (aka the? Company) uses the conventional retail inventory method.

COST RETAIL

?Inv. Beginning YR ? $28,900 ? $40,000

Purchases ? 400,000 610,000

Purchase Returns ? 9,000 ? 20,000

Purchase Discounts 7,000

Sales? (Gross) 605,000

Sales Returns ? 15,000

?Freight-in ? 23,500

?Freight-out ?50,000

Loss from Spoilage& Theft 7,500

Markups 38,000

Markup Cancellations 18,000

Markdowns ? 13,500

Markdown Cancellations 8,500

What is the the? cost-to-retail ratio for the? Company?

Reference no: EM132741792

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