Based on the following data, calculate the estimated cost of the merchandise inventory on March 31 using the retail method. $\begin{array}{llrr}&\text { Cost } & \text { Retail } \
\text { March } 1 \text { Merchandise inventory } & \$ 225,000 & \$ 357,600 \
\text { March 1-31 Purchases (net) } & 454,245 & 612,750 \
\text { March 1-31 Sales } & & 835,000
\end{array}$

Question

Based on the following data, calculate the estimated cost of the merchandise inventory on March 31 using the retail method. $\begin{array}{llrr}&\text { Cost } & \text { Retail } \
\text { March } 1  \text { Merchandise inventory } & \$ 225,000 & \$ 357,600 \
\text { March 1-31 Purchases (net) } & 454,245 & 612,750 \
\text { March 1-31 Sales } & & 835,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Based on the following data, calculate the estimated cost of the merchandise inventory on March 31 using the retail method. $\begin{array}{llrr}&\text { Cost } & \text { Retail } \
\text { March } 1  \text { Merchandise inventory } & \$ 225,000 & \$ 357,600 \
\text { March 1-31 Purchases (net) } & 454,245 & 612,750 \
\text { March 1-31 Sales } & & 835,000
\end{array}$

Based on the Following Data, Calculate the Estimated Cost of the Merchandise