Short Answer
Jane's April 1, 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 Jane for April were $280,000. Calculate the cost of ending inventory using the retail inventory method.
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$48,000 + $210,000 = $258,000;...View Answer
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