Aztec Corporation uses a periodic inventory system and the retail inventory method to estimate ending...
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Aztec Corporation uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of September: The company used the average cost flow method and estimated inventory at the end of September to be $17,437.50. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50% Required 2 Compute net purchases at retail and net sales for the month of September using the information provided. Note: Do not round your intermediate calculations
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