SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period:   Cost Retail Sales   $1,300,000 Purchases $687,400 1,239,800 Beginning inventory 158,600 255,200 What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
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SunDial Inc. uses the retail inventory method and has the following information available concerning its most recent accounting period:

  Cost Retail
Sales   $1,300,000
Purchases $687,400 1,239,800
Beginning inventory 158,600 255,200


What is SunDial's estimated cost of ending inventory? (Round ratio to three decimal places and dollar amounts to the nearest cent.) 

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