Based on the Following Data, Calculate the Estimated Cost of the Merchandise

question 112

Essay

Based on the following data, calculate the estimated cost of the merchandise inventory on March 31 using the retail method. $\begin{array}{llrr}&\text { Cost } & \text { Retail } \\\text { March } 1 \text { Merchandise inventory } & \$ 225,000 & \$ 357,600 \\\text { March 1-31 Purchases (net) } & 454,245 & 612,750 \\\text { March 1-31 Sales } & & 835,000\end{array}$

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