Gross profit method Based on the following data, estimate the cost of the ending inventory:...

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Accounting

Gross profit method
Based on the following data, estimate the cost of the ending inventory:
Estimated Cost of Ending Inventory
1 more Check My Work uses remaining. Retail method; gross profit method
Selected data on inventory, purchases, and sales for Jaffe Co. and Coronado Co. are as follows:
Coronado Co.
Required:
1. Determine the estimated cost of the inventory of Jaffe Co. on February 28 by the retail method, presenting details of the computations.
Jaffe Co.
Estimated Cost of Inventory
February 28
1 more Check My Work uses remaining. 2a. Estimate the cost of the inventory of Coronado Co. on October 31 by the gross profit method, presenting details of the computations.
Coronado Co.
Estimated Cost of Inventory
October 31
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1 more Check My Work uses remaining.
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