The following data relate to the merchandise inventory of the Hofma Company:
| Beginning inventory at cost Don't use plagiarized sources. Get Your Custom Essay on the cost to retail percentage ratio to be used in calculating an estimate of ending 610275 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page | $13,800 |
| Beginning inventory at selling price | 20,000 |
| Purchases at cost | 31,000 |
| Purchases at selling price | 50,000 |
The cost to retail percentage (ratio) to be used in calculating an estimate of ending inventory by use of the retail method is:
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