Using the Retail Inventory Method, If the Cost to Retail

question 51

True/False

Using the retail inventory method, if the cost to retail ratio is 70% and ending inventory at retail is $145,000, then estimated ending inventory at cost is $207,143.
$145,000 * 0.70 = $101,500

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A method of determining eligibility for certain forms of financial aid or social services that is based on the applicant's income and assets.

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