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compute the estimated year end inventory balance at cost using the retail method of 626018

Cobb Company records show the following information for 2010:

 

Cost

Retail

Sales

 

$350,400

Purchases

$2/0,000

420,000

Transportation-in

26,280

Merchandise inventory, 1/1/2014

12,000

1/,400

Purchase returns

15,120

18,600

Compute the estimated year-end inventory balance at cost using the retail method of estimating inventory.

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