Garden World Uses the Retail Method to Estimate Its Monthly

Multiple Choice

Garden World uses the retail method to estimate its monthly cost of goods sold and month-end inventory.At May 31,the accounting records indicate the cost of goods available for sale during the month (beginning inventory plus purchases) totaled $540,000.These goods had been priced for resale at $900,000.Sales in May totaled $480,000.The estimated inventory at May 31 is:

A) $540,000.
B) $252,000.
C) $420,000.
D) $288,000.