Octave Company had the following cost and retail pricing on its merchandise inventory. 
The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.
Definitions:
LUQ
An abbreviation for Left Upper Quadrant, referring to a section of the abdomen.
OTC
Over-The-Counter; referring to medicines that can be bought without a prescription.
Gastrointestinal
Relating to the stomach and intestines, encompassing the entire digestive tract.
Chemical Unit
A basic measurement of a substance used in chemistry that defines what amount of it is present.
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