Multiple Choice
Johnson Co. uses the retail inventory method. From the following data what is the estimated ending inventory at cost? Net purchases at cost $33,000, beginning inventory at cost $27,000, beginning inventory at retail $35,000, net purchases at retail $45,000, retail sales $70,000.
A) $7,500
B) $30,000
C) $22,500
D) $12,500
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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