Apply the retail method to the following company information to calculate the cost of the ending inventory for the current period.
$$\begin{array} { | l | r | r | }
\hline & { \text { Cost } } &{ \text { Ratail } } \
\hline \text { Beginning inventory } & \$ 20,224 & \$ 31,600 \
\hline \text { Net purchases } & 59,508 & 97,000 \
\hline \text { Sales } & & \$ 9,000 \
\hline
\end{array}$$

Question

Apply the retail method to the following company information to calculate the cost of the ending inventory for the current period.
 $$\begin{array} { | l | r | r | } 
\hline &  { \text { Cost } } &{ \text { Ratail } } \
\hline \text { Beginning inventory } & \$ 20,224 & \$ 31,600 \
\hline \text { Net purchases } & 59,508 & 97,000 \
\hline \text { Sales } & & \$ 9,000 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Apply the retail method to the following company information to calculate the cost of the ending inventory for the current period.
 $$\begin{array} { | l | r | r | } 
\hline &  { \text { Cost } } &{ \text { Ratail } } \
\hline \text { Beginning inventory } & \$ 20,224 & \$ 31,600 \
\hline \text { Net purchases } & 59,508 & 97,000 \
\hline \text { Sales } & & \$ 9,000 \
\hline
\end{array}$$

Apply the Retail Method to the Following Company Information to Calculate