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Almaden Valley Variety Store uses the retail Inventory method to estimate ending Inventory and cost of goods sold. Data for 2
Required: Complete the table below to estimate the ending Inventory and cost of goods sold for 2021, applying the conventiona
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A B Retail 30,000 $ 1,20,600 $ 4,000 $ 1 Particulars Cost 2 Beginning inventory 3 Add: Purchases 38,000 1,83,000 10,500 $ 4 L

A В с Retail 38000 183000 10500 1 Particulars Cost 30000 2 Beginning inventory 3 Add: Purchases 120600 4 Less: Purchase retur

Working notes: Calculate cost to retail percentage Cost to retail percentage Goods available for sale at cost(before mark dow

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