I'm a student at FVTC. One of my recent assignments has asked me to "• Calculate the cost of inventory by using a formula. Apply the Accounting number format.". Giving me no other information other than what I have here. Does anyone have any pointers as to how I am supposed to accomplish this? (I obviously know how to apply the accounting format, I'm just baffled how to calculate cost when all I have to go off of is retail price).
