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Business, 27.11.2019 00:31 gcain9059

Smith-kline company maintains inventory records at selling prices as well as at cost. for 2021, the records indicate the following data: ($ in 000s) cost retail beginning inventory $ 76 $ 121 purchases 667 1,002 freight-in on purchases 26 purchase returns 1 2 net markups 3 net markdowns 7 net sales 912 required: 1. use the retail method to approximate cost of ending inventory valued under average cost method.

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