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Marigold inc. had beginning inventory of $9,600 at cost and $16,000 at retail. net purchases were $96,000 at cost and $136,000 at retail. net markups were $8,000, net markdowns were $5,600, and sales revenue was $117,600. assume the price level increased from 100 at the beginning of the year to 115 at year-end. compute ending inventory at cost using the dollar-value lifo retail method.

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Marigold inc. had beginning inventory of $9,600 at cost and $16,000 at retail. net purchases were $9...
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