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QUESTION
Jane's april 1st inventory had a cost of $48,000 and a retail value of $70,000. During April, net purchases cost $210,000 with a retail value of $390,000. Net sales at retail for Jane were $280,000. C
Jane's april 1st inventory had a cost of $48,000 and a retail value of $70,000. During April, net purchases cost $210,000 with a retail value of $390,000. Net sales at retail for Jane were $280,000. Calculate the cost of ending inventory using retail inventory method.
