The following information is provided by Raynette’s Phar
Question and Solution
The following information is provided by Raynette’s Pharmacy for the last quarter of its fiscal year ending on March 31, 20--:
REQUIRED 1. Estimate the ending inventory as of March 31 using the retail inventory method. 2. Estimate the cost of goods sold for the time period January 1 through March 31 using the retail inventorymethod.