Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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May's Dress Shop's inventory at cost on Janrary 1 was $39,000. Its retail value was $59,000. During the year, May purchased additional merchandise at the cost of $195,000 with a retail value of $395,000. The net sales at retail for the year were $348,000. Calculate May's inventory at the cost by the retail method. round the cost ratio to the nearest whole percent
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