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Grand Department Store
July 1 − July 31  Net Sales\text { Net Sales}

Question 83

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Grand Department Store
July 1 − July 31  Cost  Retal  Beginning Inventory, July $205,850$292,800 Purchases $448,600$640,400\begin{array}{lll} & \text { Cost } & \text { Retal } \\\hline \text { Beginning Inventory, July } & \$ 205,850 & \$ 292,800 \\\text { Purchases } & \$ 448,600 & \$ 640,400\end{array}

 Net Sales\text { Net Sales} \quad \quad \quad \quad \quad $ 786,200
A)What is the cost ratio for Grand Department Store? (Round to the nearest whole percent)
B)What is the estimated value of the ending inventory at retail?

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