Jungle Jim's had sales of $205,400 in the month of October. Use the retail method to estimate the value of the inventory as of October 31 given the following financial information: $\begin{array}{llcc}
\text {Jungle Jim's } & \
\text { Financial Highlights } &\
\text { October 1 -October 31 } &\
\end{array}$
$\begin{array}{lll}
& \text { Cost } & \text { Retail } \
\text { Beginning Inventory } & \$ 137,211 & \$ 328,500 \
\text { Net Purchases (October) } & 138,849 & 313,500 \
\hline
\end{array}$

Question

Jungle Jim's had sales of $205,400 in the month of October. Use the retail method to estimate the value of the inventory as of October 31 given the following financial information: $\begin{array}{llcc}
  \text {Jungle Jim's  } &  \
 \text { Financial Highlights } &\
 \text { October 1 -October 31 } &\
\end{array}$
$\begin{array}{lll} 
& \text { Cost } & \text { Retail } \
\text { Beginning Inventory } & \$ 137,211 & \$ 328,500 \
\text { Net Purchases (October) } & 138,849 & 313,500 \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of Jungle Jim's had sales of $205,400 in the month of October. Use the retail method to estimate the value of the inventory as of October 31 given the following financial information: $\begin{array}{llcc}
  \text {Jungle Jim's  } &  \
 \text { Financial Highlights } &\
 \text { October 1 -October 31 } &\
\end{array}$
$\begin{array}{lll} 
& \text { Cost } & \text { Retail } \
\text { Beginning Inventory } & \$ 137,211 & \$ 328,500 \
\text { Net Purchases (October) } & 138,849 & 313,500 \
\hline
\end{array}$

Jungle Jim's Had Sales of $205,400 in the Month of October