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1.Given the following October 2017 data for the Paquette Company: Using the Retail method,...

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Accounting

1.Given the following October 2017 data for the Paquette Company: image Using the Retail method, the inventory cost estimate at 10/31/17 is:

Select one:

a. $2,900

b. $2,354

c. $2,278

d. $2,250

e. $3,000

2.Given the following March 2016 data for the Werthmann Company: image The estimated inventory at 3/31/16 is:

Select one:

a. $500

b. $1,200

c. $720

d. $800

e. $320

At Cost $1,000 Beginning Inventory Mark ups Mark-up Cancellations Net Sales Net Purchases At Retail $1,250 $250 $150 $5,000 $6,650 $5,000 Beginning Inventory March Purchases March Sales Revenue Mark-up on Cost $1,100 $900 $1,600 25%

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