Comforters, Inc. uses a periodic inventory system and the retail inventory method to estimate ending...
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Accounting
Comforters, Inc. 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 2021:
Cost
Retail
Beginning inventory
$83,000
$96,000
Net purchases
29,772
34,590
Net markups
3,300
Net markdowns
560
Net sales
52,000
What is the companys cost-to-retail percentage for the month of September?
Group of answer choices
83.81%
84.23%
85.93%
86.36%
Answer & Explanation
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