Multiple Choice
A company reports the following information regarding its inventory. Beginning inventory: cost is $80,000;retail is $130,000
Net purchases: cost is $65,000;retail is $120,000
Sales at retail: $145,000
The year-end inventory shows $135,000 worth of merchandise available at retail prices.What is the cost of the ending inventory calculated using the retail inventory method?
A) $135,000.
B) $73,125.
C) $78,300.
D) $72,900.
E) $105,000.
Correct Answer:
Verified
Correct Answer:
Verified
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