From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method.(Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent.) Net sales at retail for year $ 40,000 Beginning inventory—cost $ 27,000 Beginning inventory—retail $ 49,000 Purchases—cost $ 14,000 Purchases—retail $ 19,000 Cost Retail Beginning inventory Net purchases Cost of goods available for sale Less net sales at retail Ending inventory at retail Cost ratio % Ending inventory at cost

From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. (Round the "cost ratio" to the nearest hundredth percent. Round the "cost of...

From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method.(Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent.)

Net sales at retail for year	$	40,000
Beginning inventory—cost	$	27,000
Beginning inventory—retail	$	49,000
Purchases—cost	$	14,000
Purchases—retail	$	19,000

	Cost	Retail
Beginning inventory
Net purchases
Cost of goods available for sale
Less net sales at retail
Ending inventory at retail
Cost ratio			%
Ending inventory at cost

Jun 03, 2022

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From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. (Round the "cost ratio" to the nearest hundredth percent. Round the "cost of...

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