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Retail Method of Inventory costing
KoKo Company uses the retail method of inventory costing. They started the year with an inventory that had a retail cost of $35,000. During the year they purchased an inventory with a retail cost of $300,000. After performing a physical inventory, they calculated their inventory at $60,000. The mark up is 100% of cost. Determine the ending inventory at its estimated cost.
$120,000 $60,000 $30,000 $35,000 Can anyone help me to learn how to solve this |
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