Octave Inc.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 Inc.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 Inc.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.