Dakota Company had net sales (at retail) of $260,000. At Cost At Retail Beginning inventory Cost of goods purchased 128,400 63,800 115,060 196,800 The above additional information is available from its records. Use the retail inventory method to estimate Dakota's year-end inventory at cost. (Round cost ratio to the nearest whole percentage.) Cost-to-Retail At Cost At Retail Ratio Beginning inventory Cost of goods purchased Cost of goods available for sale $ 63,800 128,400 115,060 196,800 178,860 325,200 260,000 Net sales at retail Ending inventory 50%

Dakota Company had net sales (at retail) of $260,000. At Cost At Retail Beginning inventory Cost of goods purchased 128,400 63,800 115,060 196,800 The above additional information is available from its records. Use the retail inventory method to estimate Dakota's year-end inventory at cost. (Round cost ratio to the nearest whole percentage.) Cost-to-Retail At Cost At Retail Ratio Beginning inventory Cost of goods purchased Cost of goods available for sale $ 63,800 128,400 115,060 196,800 178,860 325,200 260,000 Net sales at retail Ending inventory 50%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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