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Calculate ending inventory at cost using the retail method

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Reference no: EM132463321

Ayayai Inc. had beginning inventory of $20,300 at cost and $30,100 at retail.

  1. Net purchases were $156,500 at cost and $214,000 at retail.
  2. Net markups were $10,600, net markdowns were $6,100, and sales were $185,000.

Question 1: Calculate the ending inventory at cost using the retail method.

Reference no: EM132463321

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