Question

Estimate the cost of ending inventory for August for Roman's Jewelry Store using the retail method on the following data: Cost Retail Beginning inventory for August $180,000 $288,000 Purchases during August $70,000 $112,000 Net sales during August

Estimate the cost of ending inventory for August for Roman's Jewelry Store using the retail method on the following data:
Cost Retail
Beginning inventory for August $180,000 $288,000
Purchases during August $70,000 $112,000
Net sales during August $80,000

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