4. Dixon Books uses the retail inventory method to estimate its monthly ending inventories. The...
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4. Dixon Books uses the retail inventory method to estimate its monthly ending inventories. The following information is available for one of its departments at October 31. Description Beginning Inventory Cost $ 420,000 Retail $ 700,000 2,135,000 3,200,000 Purchases Freight-in Purchases Discount 24,000 44,000 Net Markup Net Markdown Net Sales 200,000 100,000 2,800,000
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