Octave Company Had the Following Cost and Retail Pricing on Its

question 133

Essay

Octave Company had the following cost and retail pricing on its merchandise inventory.
$\begin{array} { l c r } & \text { Cost } & \text { Retail } \\\text { Beginning Merchandise Inventory } & \$ 150,000 & \$ 187,500 \\\text { Net Purchases } & 712,500 & 890,625\end{array}$
The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.

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