(Answered) Question - octave company had the following cost and retail

Accounting

Question - Octave Company had the following cost and retail pricing on its merchandise inventory.

	Cost	Retail
Beginning Merchandise Inventory	$150,000	$187,500
Net Purchases	712,5000	890,625

The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.

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