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Smith-Kline Company maintains inventory records at selling prices as well as at

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Smith-Kline Company maintains inventory records at selling prices as well as at cost. For 2018, the records indicate the following data: $ in sea: Cost Retail Beginning inventory $ 91 $136 Purchases 518 965 Freight—in on purchases 23 Purchase returns 1 1 Net markups 3 Net markdowns 7 Net sales 363   Required: Assuming the […]

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