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What is the approximate cost of the ending inventory

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Question - The June 1 inventory of the Kaufman Company had a cost of $8,000 and a retail value of $20,000. During June, merchandise was purchased for $36,000 and marked to sell for $60,000. June sales totaled $45,000. Use the retail method to compute the answers to the following questions.

What is the approximate cost of the ending inventory?

Reference no: EM132095800

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