retail method – accounting

June 2, 2021/in Uncategorized /by Peter

Chewy Candy has a beginning inventory of $1,000 with a retail value of $1,800. June purchases were $3,000, with a retail value of $4,700 and retail sales were $4,200. What is the June 30 estimated ending inventory at cost under the retail method?

a. $351

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b. $949

c. $4,161

d. $1,416

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retail method – accounting

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