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Retail inventory method the following information is provided by Raynette pharmacy for the last quarter of its fiscal year ending on March 31 20- inventory start of period, January 1 ,20- cost 32,200 retail 53,100 net purchases during the period cost 166,376 retail 262,100 net sales for the period retail 261,600 required: 1) estimate the ending inventory as of March 31 using the retail inventory method
Retail inventory method
the following information is provided by Raynette pharmacy for the last quarter of its fiscal year ending on March 31 20-
inventory start of period, January 1 ,20- cost 32,200 retail 53,100
net purchases during the period cost 166,376 retail 262,100
net sales for the period retail 261,600 required:
1) estimate the ending inventory as of March 31 using the retail inventory method.
2)estimate the cost of goods sold for the time. January 1 to March 31 using the retail inventory method
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