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Terrell's April 1st inventory had a cost of $48,000 and a retail value of $70,000. During April, ...

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Terrell's April 1st inventory had a cost of $48,000 and a retail value of $70,000. During April, ...

Terrell's April 1st inventory had a cost of $48,000 and a retail value of $70,000. During April, net purchases cost $210,000 with a retail value of $390,000. Net sales at retail for Terrell for April were $280,000. Calculate the cost of ending inventory using the retail inventory method.

Note: Round the cost ratio to four decimal places in your calculation.

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Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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