Mathematics, 15.12.2020 01:00, nicole5918

Manila Bread Company uses the average cost retail method to estimate its ending inventories. The following data has been summarized for the year 2021: Cost Retail Inventory, January 1 $ 54,205 $ 78,000 Purchases 326,000 466,000 Net markups 8,200 Net markdowns 16,700 Net sales 412,000 Required: Estimate the ending inventory as of December 31, 2021.

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Manila Bread Company uses the average cost retail method to estimate its ending inventories. The fol...