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January 25, 2015

Homework Help: Math

Posted by Israel on Wednesday, November 28, 2007 at 8:31pm.

Please help thanks :)

I need to know how to figure out this question.

Below is some financial information for the month of September for a large clothing store Using the retail method of inventory, estimate the value of the ending inventory at cost on September 30

Finanical Highlights for Sept 1-Sept 30

Begining inventory cost $575.000 retail $718.750
Net purchases(Sept) cost $60,000
retail $75,00
Net sales(sept)-------------------
Retail $650,000

I have no idea on this one I came up with $12,283

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