Data Summarizing the Inventory Activity During 2013 for a Merchandising

Multiple Choice

Data summarizing the inventory activity during 2013 for a merchandising company are (000's) : $\begin{array} { | l | l | l | } \hline & \text { Cost } & \text { Retail } \\\hline \text { Beginning inventory } & \$ 110 & \$ 216 \\\hline \text { Net purchases } & 618 & 880 \\\hline \text { Net mark-ups } & 24 & \\\hline \text { Net markdowns } & ( 80 ) & \\\hline \text { Goods available for sale } & \$ 728 & \$ 1,040 \\\hline \text { Net sales } & ( 880 ) & \\\hline \text { Ending inventory at retail } \$ 160 & \\\hline\end{array}$
The company uses the retail method of valuing inventory, at average, lower-of-cost-or-market. The 2013 inventory valuation is:

A) $99
B) $104
C) $112
D) $160