San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of October 2013: Cost Retail Beginning inventory Net purchases Net markups Net markdowns Net sales Required: $ 49,000 14,765 $ 64,000 33,000 2,600 1,500 46,000 Calculate the table to estimate the average cost of ending inventory and cost of goods sold for October. Do not approximate LCM.

San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of October 2013: Cost Retail Beginning inventory Net purchases Net markups Net markdowns Net sales Required: $ 49,000 14,765 $ 64,000 33,000 2,600 1,500 46,000 Calculate the table to estimate the average cost of ending inventory and cost of goods sold for October. Do not approximate LCM.

Name: Please do not give solution in image format thanku San Lorenzo General
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Description: Please do not give solution in image format thanku San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventoryand cost of goods sold. The following data are available for the month of Octobe

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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