From the following, calculate the cost ratio and the cost of ending inventory to the...
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Accounting
From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method. (Round the cost ratio to the nearest hundredth percent. Round the cost of ending Inventory to the nearest cent.) Net sales at retail for year Beginning inventory-cost Beginning inventory-retail Purchases-cost Purchases-retail $ 44,000 $31,000 $ 53,000 $14,800 $ 19,800 Cost Retail Beginning inventory Net purchases Cost of goods available for sale Less net sales are Ending inventory Costa Ending inventory cost
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