Estimating ending inventory using the conventional method (average cost and the LCM approximation).
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Kiddie World uses a periodic inventory system and the retail inventory method. The following data are available for Kiddie World for the quarter ending September 30, 2011:
Please see the attached file.
Estimate ending inventory using the conventional method (average cost and the LCM approximation).
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In this solution we estimate the ending inventory using the conventional method.
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Week 4-2
Kiddie World uses a periodic inventory system and the retail inventory method. The following data are available for Kiddie World for the quarter ending September 30, 2011:
...
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