Find out the ending inventory at its estimated cost

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Reference no: EM13127275

A company uses the retail method of inventory costing. They started the year with an inventory that had a retail cost of 45,000. During the year they purchased an inventory eith a retail cost of 300,000. After performing a physical inventory, they calculated theri inventory cost at retail to be 80,000. The mark up is 100% of cost. Determine the ending inventory at its estimated cost.

Reference no: EM13127275

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