dswitz2671 dswitz2671

15-11-2017
Business

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A business using the retail method of inventory costing determines that inventory at retail is $680,000. if the ratio of cost to retail price is 70%, what is the amount of inventory to be reported on the financial statements?

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meerkat18 meerkat18

17-11-2017

$476,000 should be reflected as the cost of inventory in the financial statements

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