Gena Company uses the retail method of inventory costing. They started the year with an inventory that had a retail cost of $35,000. During the year they purchased an inventory with a retail cost of $300,000. After performing a physical inventory, they calculated their inventory at $52,000. The mark up is 100% of cost. Determine the ending inventory at its estimated cost
$52,000 / 50% = $26,000
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