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21-01-2024
Business

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During 2023, Harmony Co. sold $513,000 of merchandise at marked retail prices. At the end of 2023, the following information was available from its records:

At Cost At Retail
Beginning inventory $ 120,600 $ 249,800
Net purchases 224,240 386,600

Use the retail method to estimate Harmony’s 2023 ending inventory at cost

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