Brief Exercise 9-9 (Static) Conventional retail method [LO9-4] Kiddie World uses a periodic inventory system...
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Brief Exercise 9-9 (Static) Conventional retail method [LO9-4] Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available at the end of the year: Estimate ending inventory and cost of goods sold using the conventional method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34% ) Estimate ending inventory and cost of goods sold using the conventional method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)
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