A company uses the retail inventory method and has the following information available concerning its most recent accounting period:
(a) What is the cost-to-retail ratio using the retail method?
(b) What is the estimated cost of the ending inventory?

Question

A company uses the retail inventory method and has the following information available concerning its most recent accounting period:
  (a) What is the cost-to-retail ratio using the retail method?
(b) What is the estimated cost of the ending inventory?

Quizplus · Accepted Answer

The Answer of A company uses the retail inventory method and has the following information available concerning its most recent accounting period:
  (a) What is the cost-to-retail ratio using the retail method?
(b) What is the estimated cost of the ending inventory?

A Company Uses the Retail Inventory Method and Has the Following