On the basis of the following data, determine the estimated cost of the inventory as of March 31 by the retail method, presenting details of the computation in good order.
Definitions:
Decentralization
The distribution of decision-making powers away from a central authority to lower levels in an organization.
Franchise
The right or license granted to an individual or group to market a company’s goods or services.
License
A legal authorization allowing an individual or entity to use a piece of property or engage in a particular activity or business.
Decentralized Company
A decentralized company allows for decision-making authority to be distributed among various levels within the organization rather than being concentrated at the top.
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