Apply the retail method to the following company information to calculate the cost of the ending inventory for the current period:
$\begin{array}{|l|r|r|}
\hline &{\text { Cost }} &{\text { Retail }} \
\hline \text { Beginning inventory } & \$ 20,224 & \$ 31,600 \
\hline \text { Net purchases } & 59,508 & 97,000 \
\hline \text { Sales } & & 89,000 \
\hline
\end{array}$

Question

Apply the retail method to the following company information to calculate the cost of the ending inventory for the current period:
 $\begin{array}{|l|r|r|}
\hline &{\text { Cost }} &{\text { Retail }} \
\hline \text { Beginning inventory } & \$ 20,224 & \$ 31,600 \
\hline \text { Net purchases } & 59,508 & 97,000 \
\hline \text { Sales } & & 89,000 \
\hline
\end{array}$

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:
 $\begin{array}{|l|r|r|}
\hline &{\text { Cost }} &{\text { Retail }} \
\hline \text { Beginning inventory } & \$ 20,224 & \$ 31,600 \
\hline \text { Net purchases } & 59,508 & 97,000 \
\hline \text { Sales } & & 89,000 \
\hline
\end{array}$

Apply the Retail Method to the Following Company Information to Calculate