Freyman's Shoe Store Had Net Retail Sales of $200,000 During

question 17

Essay

Freyman's Shoe Store had net retail sales of $200,000 during the current year.The following additional information was obtained from the accounting records.
$\begin{array}{lrr}&\text {At Cost}&\text {At Retail}\\\text { Beginning inventory } & \$ 30,000 & \$63,000 \\\text { Net purchases for the period } & 89,000 & 193,000 \\\text { Freight-in } & 9,000 &\end{array}$
Estimate the company's ending inventory at cost using the retail method.(Show your work.)

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Definitions:

Vertebrae

The individual bones that make up the vertebral column (spine), providing structural support and protecting the spinal cord.

Actin Filaments

Actin filaments are thin, flexible fibers found in all eukaryotic cells, playing key roles in cell movement, shape, and structure by forming part of the cytoskeleton.

Myosin Filaments

Thick filaments within muscle cells that interact with actin filaments to cause muscle contraction through a sliding filament mechanism.

Muscle Contraction

The process where muscle fibers shorten, generating force, following activation by a nerve impulse.