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Retail Inventory Method. When You Undertook the Preparation of the Financial Statements for Financial

Question 85

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Retail inventory method.
When you undertook the preparation of the financial statements for Telfer Company at January 31, 2015, the following data were available: Retail inventory method. When you undertook the preparation of the financial statements for Telfer Company at January 31, 2015, the following data were available: Instructions Compute the ending inventory at cost as of January 31, 2015, using the retail method which approximates lower of cost or market. Your solution should be in good form with amounts clearly labeled.
Instructions
Compute the ending inventory at cost as of January 31, 2015, using the retail method which approximates lower of cost or market. Your solution should be in good form with amounts clearly labeled.

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