Talkington Rae Company reports goods available for sale at cost $76800. Beginning inventory at retail is $40000 and goods purchased during the period at retail were $80000. Sales for the period amounted to $85000.
Instructions
Determine the estimated cost of the ending inventory using the retail inventory method.

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Talkington Rae Company reports goods available for sale at cost $76800. Beginning inventory at retail is $40000 and goods purchased during the period at retail were $80000. Sales for the period amounted to $85000.
Instructions
Determine the estimated cost of the ending inventory using the retail inventory method.

Talkington Rae Company Reports Goods Available for Sale at Cost