ACCT 121 Octave Company had the following cost and retail pricing on its merchandise inventory.
January 9th, 2018
Octave Company had the following cost and retail pricing on its merchandise inventory. cost retailBeginning Merchandise Inventory $150,000 $187,500Net Purchases 712,500 890,625The net sales revenue for the time period was $65,000. Compute the estimated cost of ending merchandise inventory by the retail method.