Octave Company had the following cost and retail pricing on its merchandise inventory. The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.

Question

Octave Company had the following cost and retail pricing on its merchandise inventory.  The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.

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The Answer of Octave Company had the following cost and retail pricing on its merchandise inventory.  The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.

Octave Company Had the Following Cost and Retail Pricing on Its