Intermediate Accounting 14th Edition

Published by Wiley
ISBN 10: 0470587237
ISBN 13: 978-0-47058-723-2

Chapter 9 - Inventories: Additional Valuation Issues - Concepts for Analysis - Page 540: CA9-7(8)

Answer

The cost of beginning inventory would be considered in the cost to retail percentage under the conventional retail method.

Work Step by Step

The cost of begging inventory refers to the cost of the opening stock or stock that was present at the start of the current period.
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