Henke Couses the Retail Inventory Method to Estimate Its Inventory for for Interim

Multiple Choice

Henke Co.uses the retail inventory method to estimate its inventory for interim statement purposes.Data relating to the computation of the inventory at July 31, 2010, are as follows: Under the lower-of-cost-or-net realizable value method, Henke's estimated inventory at July 31, 2010 is

A) $72,000.
B) $84,000.
C) $96,000.
D) $120,000.