Jungle Jim's Had Sales of $205,400 in the Month of October

Short Answer

Jungle Jim's had sales of $205,400 in the month of October. Use the retail method to estimate the value of the inventory as of October 31 given the following financial information: $\begin{array}{llcc} \text {Jungle Jim's } & \\ \text { Financial Highlights } &\\ \text { October 1 -October 31 } &\\\end{array}$
$\begin{array}{lll} & \text { Cost } & \text { Retail } \\\text { Beginning Inventory } & \$ 137,211 & \$ 328,500 \\\text { Net Purchases (October) } & 138,849 & 313,500 \\\hline\end{array}$