dk super stores inc uses the average cost retail method to estimate its ending inven 492369
DK Super Stores Inc. uses the average cost retail method to estimate its ending inventory. Information at June 30, 2011, is as follows:
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dk super stores inc uses the average cost retail method to estimate its ending inven 492369
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|
Cost |
Retail |
|
Beginning inventory |
105,000 |
|
Net purchases |
375,000 |
|
Ending inventory |
64,000 |
Required:
Compute the cost-to-retail percentage used by DK.
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