Calculate cost of ending inventory using the retail method:
$$\begin{array} { | l | c | c | }
\hline & \text { Cost } & \text { Retail Price } \
\hline \text { Beginning Inventory } & \$ 60,000 & \$ 102,000 \
\hline \text { Purchases during the year } & \$ 25,000 & \$ 40,000 \
\hline \text { Sales for Year } & \$ 60,000 & \
\hline
\end{array}$$

Question

Calculate cost of ending inventory using the retail method:
 $$\begin{array} { | l | c | c | } 
\hline & \text { Cost } & \text { Retail Price } \
\hline \text { Beginning Inventory } & \$ 60,000 & \$ 102,000 \
\hline \text { Purchases during the year } & \$ 25,000 & \$ 40,000 \
\hline \text { Sales for Year } & \$ 60,000 & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Calculate cost of ending inventory using the retail method:
 $$\begin{array} { | l | c | c | } 
\hline & \text { Cost } & \text { Retail Price } \
\hline \text { Beginning Inventory } & \$ 60,000 & \$ 102,000 \
\hline \text { Purchases during the year } & \$ 25,000 & \$ 40,000 \
\hline \text { Sales for Year } & \$ 60,000 & \
\hline
\end{array}$$

Calculate Cost of Ending Inventory Using the Retail Method