Required Informatlon Problem 9-6 (Algo) Retall Inventory method; average cost and conventlonal [LO9-3, 9-4] [The...
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Required Informatlon Problem 9-6 (Algo) Retall Inventory method; average cost and conventlonal [LO9-3, 9-4] [The following information applles to the questions displayed belaw.] Sparrow Company uses the retall inventory method to estimate ending inventory ahd cost of goods sold. Data for 2024 are as follows: The company records sales net of employee discounts. Employee discounts for 2024 totaled $5.000. Problem 9.6 (Algo) Part 1 Requlred: 1. Estimate Sparrow's ending inventory and cost of goods sold for the year using the retall inventony method and the average cost application. Note: Round Cost-to-retall percentage to 2 decimal places and final answers to the nearest whole dollor amount
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